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Arizona Motion for Approval of Reaffirmation Agreement

Arizona Motion for Approval of Reaffirmation Agreement

Name: Arizona Motion for Approval of Reaffirmation Agreement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.69 (461 reviews)

Category:

Arizona Bankruptcy - Official - Local District

State:

Arizona

Control #:

AZ-BNK-74

Format:

Instant download

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Description

Download Motion for Approval of Reaffirmation Agreement An Arizona Motion for Approval of Reaffirmation Agreement is a legal document that is filed by a debtor in a bankruptcy case in Arizona who wishes to reaffirm an unsecured debt from a creditor. The motion is filed in order to obtain the approval of the bankruptcy court to reaffirm the debt and enter into a reaffirmation agreement with the creditor. The motion includes information about the debtor, the creditor, the amount of the debt, and the terms of the reaffirmation agreement. The motion must be approved by the court before the reaffirmation agreement can be executed. There are two types of Arizona Motion for Approval of Reaffirmation Agreement: voluntary and involuntary. A voluntary motion is filed by the debtor when they choose to reaffirm the debt, while an involuntary motion is filed when the creditor requests the debtor to reaffirm the debt.

An Arizona Motion for Approval of Reaffirmation Agreement is a legal document that is filed by a debtor in a bankruptcy case in Arizona who wishes to reaffirm an unsecured debt from a creditor. The motion is filed in order to obtain the approval of the bankruptcy court to reaffirm the debt and enter into a reaffirmation agreement with the creditor. The motion includes information about the debtor, the creditor, the amount of the debt, and the terms of the reaffirmation agreement. The motion must be approved by the court before the reaffirmation agreement can be executed. There are two types of Arizona Motion for Approval of Reaffirmation Agreement: voluntary and involuntary. A voluntary motion is filed by the debtor when they choose to reaffirm the debt, while an involuntary motion is filed when the creditor requests the debtor to reaffirm the debt.

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How to fill out Arizona Motion For Approval Of Reaffirmation Agreement?

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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.

Given these significant consequences, you must make sure that you understand the terms of a reaffirmation agreement before signing, including (1) the amount that you will owe, (2) the timing of the payments and (3) any right the creditor may have to take away the property if you fail to make payment.

What Is a Reaffirmation Agreement? Reaffirmation agreements are a special feature of Chapter 7 bankruptcy. They give your creditors a chance to get you back on the hook for debt you would have otherwise discharged in the bankruptcy by allowing you to reaffirm, or re-sign, liability for a specific debt.

A reaffirmation agreement is an agreement by which a bankruptcy debtor becomes legally obligated to pay all or a portion of an otherwise dischargeable debt.

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.

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.

A reaffirmed debt remains your personal legal obligation to pay. Your reaffirmed debt is not discharged in your bankruptcy case. That means that if you default on your reaffirmed debt after your bankruptcy case is over, your creditor may be able to take your property or your wages.

More info

Motion For Approval of Reaffirmation Agreement. Download Form (pdf, 270.Motion for Approval of Reaffirmation Agreement (Superseded). Download Form (pdf, 253. A reaffirmation agreement shall be filed no later than 60 days after the first date set for the meeting of creditors under §341(a) of the Code. The motion shall be filed in the ECF event "Motion for Approval of Reaffirmation Agreement — Presumption of Undue Hardship Applies. PLI PLUS is Practising Law Institute's research database which provides electronic access to the full collection of PLI Press publications. Try all the advantages of our editor right now! Be ready to get more. Part E Motion for court approval.

Arizona Motion for Approval of Reaffirmation Agreement

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Which of the following is required for a valid reaffirmation agreement?

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