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  • B2400a (form 2400a) (1215) - Kywb Uscourts

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B2400A (Form 2400A) (12/15) Check one. Presumption of Undue Hardship No Presumption of Undue Hardship See Debtors Statement in Support of Reaffirmation, Part II below, to determine which box to check.

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Many lenders will require you to enter into a reaffirmation agreement if you intend to keep the vehicle. If you do not reaffirm, they can repossess the vehicle. Reaffirmation is the process where you agree to pay the debt by writing a new contract with the lender and submit it to the bankruptcy court for approval.

When a person files for bankruptcy, they do so in order to be relieved of a debt burden they cannot pay. By entering into a reaffirmation agreement, a borrower often maintains possession of an asset held as collateral such as a home or a car, as long as they can fully repay the debt owed on that particular loan.

After you have entered into a reaffirmation agreement and all parts of this form that require a signature have been signed, either you or the creditor should file it as soon as possible.

Occasionally, a Chapter 13 debtor wishes to or is asked to reaffirm a debt which has been discharged following the successful completion of a case. You do not have to reaffirm any discharged debts.

Reaffirming your mortgage means a new promise to repay the debt and committing to making your payments on time. Make sure you can afford the payments before you agree to reaffirm the debt.

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.

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 demonstrate that the car payment isn't an undue hardship on your household and that you'd be able to afford the necessities of life.

Agreeing to repay the excess loan amount in ance with the terms of the promissory note is called “reaffirmation.” You can reaffirm an excess loan amount by signing a reaffirmation agreement with your loan servicer.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232