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.
North Dakota Reaffirmation Agreement
Category:
State:
North Dakota
Control #:
ND-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 North Dakota Reaffirmation Agreement?
Avoid expensive lawyers and find the North Dakota Reaffirmation Agreement you want at a reasonable price on the US Legal Forms site. Use our simple groups function to look for and obtain legal and tax documents. Go through their descriptions and preview them prior to downloading. Additionally, US Legal Forms enables users with step-by-step tips on how to obtain and complete every template.
US Legal Forms clients simply have to log in and download the specific form they need to their My Forms tab. Those, who have not got a subscription yet must stick to the tips below:
- Make sure the North Dakota Reaffirmation Agreement is eligible for use in your state.
- If available, look through the description and use the Preview option just before downloading the templates.
- If you’re sure the template suits you, click Buy Now.
- In case the template is incorrect, use the search engine to find the right one.
- Next, create your account and choose a subscription plan.
- Pay by credit card or PayPal.
- Choose to obtain the document in PDF or DOCX.
- Click Download and find your form in the My Forms tab. Feel free to save the template to your device or print it out.
Right after downloading, you can complete the North Dakota Reaffirmation Agreement by hand or an editing software program. Print it out and reuse the form multiple times. Do more for less with US Legal Forms!
Form popularity
FAQ
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.
To reaffirm a car loan, you must be able to show the court that the vehicle is necessary and that the payment is reasonable. You must also be able to show that the car payment isn't an undue hardship on your household (you'll still be able to afford the necessities of life). Effect of 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 cancel (or rescind) your reaffirmation agreement, even if a judge has already approved it. NOTE: WE STRONGLY RECOMMEND THAT YOU SPEAK WITH AN ATTORNEY TO ADVISE YOU ABOUT THE CONSEQUENCES OF CANCELLING A REAFFIRMATION AGREEMENT IN YOUR CASE.
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.
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.
Either way - if the reaffirmation agreement is not approved, your personal liability is discharged. And - just like when the court denies approval of the reaffirmation - most lenders will simply keep everything the same, as long as you make timely payments and keep the vehicle insured.
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.