Steer clear of expensive lawyers and discover the North Carolina Reaffirmation Agreement you need at an affordable price on the US Legal Forms website.
Utilize our straightforward grouping feature to search for and download legal and tax documents. Review their descriptions and preview them before downloading.
Choose to obtain the form in PDF or DOCX format. Click Download and locate your template in the My documents section. You can either save the template to your device or print it. After downloading, you can complete the North Carolina Reaffirmation Agreement manually or with editing software. Print it out and reuse the template multiple times. Achieve more for less with US Legal Forms!
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.
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.
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.
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.