A Kentucky Order on Reaffirmation Agreement is an order issued by a court in the state of Kentucky that confirms the validity of a reaffirmation agreement between a debtor and a creditor. Reaffirmation agreements are contracts that allow a debtor to keep a particular asset (such as a car or a home) even after filing for bankruptcy. The agreement states that the debtor will pay all or part of the debt, which will be released from the bankruptcy estate. The Kentucky Order on Reaffirmation Agreement is issued after the debtor and creditor have entered into the reaffirmation agreement, and it is signed by the court. The order will state that the debtor and creditor have agreed to the terms and conditions of the reaffirmation agreement and that it is enforceable. The order also serves as a reminder to the debtor that they are still responsible for the debt and that they must make payments according to the agreement. There are two types of Kentucky Order on Reaffirmation Agreement: voluntary and involuntary. Voluntary reaffirmation agreements are those in which the debtor and creditor have both agreed to the terms and conditions of the agreement. Involuntary reaffirmation agreements are those in which the court has determined that the debtor is not able to pay the debt and the agreement is enforced by the court.
Kentucky Order on Reaffirmation Agreement
Description
How to fill out Kentucky Order On Reaffirmation Agreement?
US Legal Forms is the most straightforward and profitable way to locate appropriate legal templates. It’s the most extensive online library of business and individual legal paperwork drafted and checked by attorneys. Here, you can find printable and fillable blanks that comply with national and local regulations - just like your Kentucky Order on Reaffirmation Agreement.
Getting your template takes only a few simple steps. Users that already have an account with a valid subscription only need to log in to the web service and download the document on their device. Afterwards, they can find it in their profile in the My Forms tab.
And here’s how you can get a properly drafted Kentucky Order on Reaffirmation Agreement if you are using US Legal Forms for the first time:
- Read the form description or preview the document to ensure you’ve found the one meeting your demands, or locate another one using the search tab above.
- Click Buy now when you’re certain about its compatibility with all the requirements, and judge the subscription plan you prefer most.
- Register for an account with our service, sign in, and pay for your subscription using PayPal or you credit card.
- Choose the preferred file format for your Kentucky Order on Reaffirmation Agreement and download it on your device with the appropriate button.
Once you save a template, you can reaccess it whenever you want - simply find it in your profile, re-download it for printing and manual fill-out or import it to an online editor to fill it out and sign more proficiently.
Benefit from US Legal Forms, your trustworthy assistant in obtaining the required official paperwork. Give it a try!
Form popularity
FAQ
The deadline to cancel a reaffirmation agreement is the later of these two dates: 60 days after the date the agreement is filed with the Court; or ? the date the Bankruptcy Court issues a discharge in your case.
Rescission of Reaffirmation Agreements The Bankruptcy Code permits you to rescind a reaffirmation agreement at any time prior to the date the Bankruptcy Court issues a discharge order, or within 60 days after the reaffirmation agreement is filed with the court, whichever event occurs later.
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.
A reaffirmation agreement is where you agree to pay a debt even though you could have eliminated the debt in your bankruptcy case. When you reaffirm a debt, you continue to be legally responsible for paying it back. This gives the creditor some legal rights.
Reaffirmation is an agreement by a debtor, to a lender, to repay some or all of their debt. Debtors make reaffirmation agreements purely voluntarily.
If a debtor signs a reaffirmation agreement, the debtor agrees to pay a debt that otherwise might be discharged in his or her bankruptcy case.
If the reaffirmation agreement is not filed with the bankruptcy court prior to the discharge date, it may be ineffective and the bankruptcy court can deny approval of the reaffirmation agreement altogether. It is totally voluntary that a debtor and creditor sign a reaffirmation agreement.