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Kentucky Motion For Approval of Reaffirmation Agreement

Kentucky Motion For Approval of Reaffirmation Agreement

Name: Kentucky Motion For Approval of Reaffirmation Agreement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.79 (219 reviews)

Category:

Kentucky Federal - District Court - Eastern District

State:

Kentucky

Control #:

KY-SKU-0326

Format:

Instant download

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Description

Motion For Approval of Reaffirmation Agreement A Kentucky Motion for Approval of Reaffirmation Agreement is a legal document filed in the state of Kentucky when a debtor wishes to enter into a reaffirmation agreement with their creditor. A reaffirmation agreement is a legally binding contract that allows a debtor to reaffirm their liability for a debt that would otherwise be discharged in bankruptcy proceedings. The motion includes the debtor’s name, address, and social security number, as well as the creditor’s name and address. It also includes a description of the debt in question and the terms of the reaffirmation agreement. The motion must be signed by the debtor and notarized. There are two types of Kentucky Motion for Approval of Reaffirmation Agreement: (1) voluntary (where the debtor willingly agrees to the reaffirmation agreement) and (2) involuntary (where the debtor is compelled to agree to the reaffirmation agreement pursuant to a court order).

A Kentucky Motion for Approval of Reaffirmation Agreement is a legal document filed in the state of Kentucky when a debtor wishes to enter into a reaffirmation agreement with their creditor. A reaffirmation agreement is a legally binding contract that allows a debtor to reaffirm their liability for a debt that would otherwise be discharged in bankruptcy proceedings. The motion includes the debtor’s name, address, and social security number, as well as the creditor’s name and address. It also includes a description of the debt in question and the terms of the reaffirmation agreement. The motion must be signed by the debtor and notarized. There are two types of Kentucky Motion for Approval of Reaffirmation Agreement: (1) voluntary (where the debtor willingly agrees to the reaffirmation agreement) and (2) involuntary (where the debtor is compelled to agree to the reaffirmation agreement pursuant to a court order).

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FAQ

A reaffirmation agreement is a legally-binding document that establishes the legal obligations of a borrower to repay some or all of it during bankruptcy.

A reaffirmation agreement is an agreement by which a bankruptcy debtor becomes legally obligated to pay all or a portion of an otherwise dischargeable debt.

A reaffirmation agreement is an agreement between a chapter 7 debtor and a creditor that the debtor will pay all or a portion of the money owed, even though the debtor has filed bankruptcy. In return, the creditor promises that, as long as payments are made, the creditor will not repossess or take back its collateral.

You or your creditor must file with the court the original of this Reaffirmation Documents packet and a completed Reaffirmation Agreement Cover Sheet (Official Bankruptcy Form 27).

For example, if a replacement used car costs $5,000 at a 5% interest rate and the reaffirmation agreement would require the debtor to pay $6,000 at a 5% interest rate or $5,000 at a 6% interest rate, then the debtor should not enter into the reaffirmation agreement.

To ensure that creditors do not defraud their debtors, reaffirmation agreements must be: In writing; Filed with the court; and. Certified by the debtor's attorney.

Reaffirming a mortgage debt requires a comprehensive multi-page reaffirmation agreement that must be filed with the court. The reaffirmation agreement also requires the debtor's bankruptcy attorney to indicate that he or she has read the agreement and that it does not impose any undue hardship on the client.

More info

Motion For Approval of Reaffirmation Agreement. Download Form (pdf, 270.Motion for Approval of Reaffirmation Agreement (Superseded). Download Form (pdf, 253. A reaffirmation agreement shall be filed no later than 60 days after the first date set for the meeting of creditors under §341(a) of the Code. The motion shall be filed in the ECF event "Motion for Approval of Reaffirmation Agreement — Presumption of Undue Hardship Applies. PLI PLUS is Practising Law Institute's research database which provides electronic access to the full collection of PLI Press publications. Try all the advantages of our editor right now! Be ready to get more. Part E Motion for court approval.

Kentucky Motion For Approval of Reaffirmation Agreement

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What is a reaffirmation document?

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Which of the following is required for a valid reaffirmation agreement?

What is required for mortgage reaffirmation?

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