The reaffirmation agreement is used to reaffirm a particular debt. Once the debtor signs the agreement, the debtor gives up any protection of the bankruptcy discharge against the particular debt. The debtor is not required to enter into this agreement by any law.
Massachusetts Reaffirmation Agreement
Category:
State:
Massachusetts
Control #:
MA-BKR-801
Format:
Word;
PDF;
Rich Text
Instant download
This website is not affiliated with any governmental entity
Public form
Description
How to fill out Massachusetts Reaffirmation Agreement?
Greetings to the most extensive legal documentation library, US Legal Forms.
Here, you can discover any template, including Massachusetts Reaffirmation Agreement forms, and retain as many as you wish or require.
Prepare formal documents in merely a few hours instead of days or weeks, without incurring excessive costs for an attorney.
If the template meets all your criteria, click Buy Now. To establish an account, choose a pricing plan. Utilize a credit card or PayPal account to subscribe. Download the document in your preferred format (Word or PDF). Print out the document and complete it with your or your business’s information. After you’ve filled out the Massachusetts Reaffirmation Agreement, send it to your attorney for confirmation. It’s an additional step, yet a crucial one to ensure you’re fully protected. Join US Legal Forms today and gain access to thousands of reusable templates.
- Obtain the state-specific template with just a few clicks and rest assured that it was created by our state-authorized legal experts.
- If you’re already a subscribed member, just Log In to your account and click Download next to the Massachusetts Reaffirmation Agreement you desire.
- Since US Legal Forms is online, you will always have access to your saved forms, regardless of the device you’re using.
- Find them within the My documents section.
- If you haven't created an account yet, what are you waiting for.
- Follow our instructions below to begin.
- If this is a state-specific document, verify its validity in your residing state.
- Review the description (if available) to confirm it’s the appropriate template.
Form popularity
FAQ
No, a Massachusetts Reaffirmation Agreement cannot be filed after your bankruptcy discharge has been granted. The purpose of this agreement is to reaffirm your obligation to repay a specific debt, typically for secured loans like a car or home. Once the discharge occurs, creditors lose the right to collect on discharged debts, making any reaffirmation attempts ineffective. If you have questions about creating a reaffirmation agreement, consider using US Legal Forms, which offers resources to guide you through the process.
If you don't sign a reaffirmation agreement, the lender can repossess your car after your case closes and the automatic stay lifts. Some car lenders are known to repossess the car immediately, even if you are current on payments.
If you do not reaffirm the mortgage, your personal liability for paying the debt represented by the promissory note is discharged in your bankruptcy case.The company can foreclose the mortgage and force a foreclosure sale if you stop making payments.
By contrast, a reaffirmation agreement is a new contract. It's often on the same terms as the prior contract, but you can try to negotiate a new payment amount, interest rate, or some other provision.
Reaffirmation is the process wherein you agree to remain responsible for a debt so that you can keep the property securing the debt (collateral). You and the lender enter into a new contractusually on the same termsand submit it to the bankruptcy court.
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. There may be other ways to renegotiate payments with creditors without entering into a reaffirmation agreement.
Reaffirmation agreements are strictly voluntary. A debtor is not required to reaffirm any of his or her debts. 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.
Yes, you can sell the home. The effect of no reaffirmation is that you do not have a personal obligation to pay the mortgage. You still are the titled owner and the mortgage is still a lien on the property so it must be paid in order to sell the property.
Reaffirmation is voluntary Surrender may be the best thing if the car is simply too expensive or isn't reliable. You can choose to keep the car and continue paying without reaffirming. You take your chances that the lender will repossess the car, but you also keep the benefits of the bankruptcy discharge.
Reaffirmation agreements are strictly voluntary. A debtor is not required to reaffirm any of his or her debts. 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.