Fulton Georgia Reaffirmation Agreement, Motion, and Order are legal documents specifically used in the Fulton County area of Georgia. The available types of these documents may vary depending on the specific legal context or case at hand. 1. Fulton Georgia Reaffirmation Agreement: A Reaffirmation Agreement is a legally binding contract between a debtor and a creditor, commonly used in bankruptcy cases. In Fulton County, Georgia, this agreement ensures that the debtor can continue to make payments on a specific debt instead of discharging it through bankruptcy. It is a voluntary agreement that allows debtors to keep certain assets, such as a car or house, by reaffirming their commitment to repay the debt. 2. Fulton Georgia Motion: A Motion refers to a formal request made to a court by one of the parties involved in a legal proceeding. In Fulton County, Georgia, various types of motions may be filed, depending on the situation. Some common examples include motions for dismissal, motions for summary judgment, motions for continuance, motions to compel, and motions to suppress evidence. Each motion serves a specific purpose and seeks a particular action or ruling from the court. 3. Fulton Georgia Order: An Order is a written directive or command issued by a judge or court, often as a result of a motion. In Fulton County, Georgia, there can be different types of orders associated with a Reaffirmation Agreement or a Motion. These may include an Order Granting Reaffirmation, which approves the reaffirmation of a debt; an Order Denying Reaffirmation, which disallows the reaffirmation request; or an Order Granting a Motion, which approves the request made within the filed motion. It is essential to consult with an attorney or legal professional familiar with Fulton County's specific laws and regulations to obtain accurate and up-to-date information regarding the different types of Fulton Georgia Reaffirmation Agreement, Motion, and Order. Understanding the specific requirements and legal procedures associated with these documents is crucial for parties involved in legal proceedings within Fulton County, Georgia.
Fulton Georgia Reaffirmation Agreement, Motion and Order
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FAQ
If you want to file a reaffirmation agreement, you need to do so within 60 days of the first date of the meeting of creditors. Once you submit it, it must be accepted by the creditor. Once that happens, the court won't approve the agreement until you're eligible for immediate discharge.
Once the court has approved the reaffirmation agreement, the filer's personal liability on the car loan survives the entry of the discharge. If all remaining payments on the loan are paid in full, then it's essentially as though the bankruptcy never happened.
Reaffirming your mortgage means that you file paperwork that states that you affirm this debt regardless of your bankruptcy discharge. That protects your lender from losing out on the money they have invested in the property, and it also allows you to retain your ownership in the home and your accumulated equity.
When a lender receives your completed reaffirmation agreement, it will file it with the bankruptcy court. The court will then schedule a hearing to discuss the reaffirmation and decide whether or not to approve the agreement.
Reaffirming a debt allows you to keep the property securing the debt, which can be a real advantage in some cases. It also allows you to avoid having to come up with a lump-sum payment to keep the property.
You will receive a hearing date to see a judge and explain why you want to reaffirm the debt. You must also explain how you can afford to make payments in the future. The judge will decide whether or not to approve your reaffirmation agreement.
He has depleted his savings and is unable to make his mortgage payments. John arranges with his mortgage company a reaffirmation that is approved in court. He reaffirms the debt he owes on the home mortgage, with a chance to renegotiate payments with the lender.
If the Court denies the reaffirmation agreement, you are in technical default again. This is part of the trade2010off between Chapters 7 and 13. In exchange for a quick, efficient, inexpensive discharge of your debts, you give up control over the actions of creditors.
Reaffirming a debt informs the lender that you intend to continue to pay the loan. Generally, the lender will continue to report the loan and all payments made on that loan to the credit reporting agencies, which may help improve your credit score after bankruptcy, provided timely payments are made on the loan.
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.