Motion to enlarge time for filing reaffirmation agreements - first motion
Definition and meaning
A Motion to Enlarge Time for Filing Reaffirmation Agreements is a formal request made by debtors in bankruptcy proceedings to extend the deadline for submitting reaffirmation agreements to the court. A reaffirmation agreement is a legal contract that allows debtors to retain certain secured debts, such as car loans or mortgages, by agreeing to continue paying them after bankruptcy. This motion is crucial for debtors who need additional time to negotiate or finalize these agreements.
How to complete a form
Completing the Motion to Enlarge Time for Filing Reaffirmation Agreements involves several steps:
- Fill in the case number and chapter of your bankruptcy.
- Clearly state that this is your first motion for an enlargement of time.
- Specify the new deadline, ensuring it does not exceed thirty days from the original deadline set forth in Fed. R. Bankr. P. 4008(a).
- Provide any additional relevant information that supports your request.
After completing the motion, ensure to include an attorney’s signature and contact details, as well as a certificate of service if required.
Who should use this form
This form is intended for individuals or couples who are in the process of filing for bankruptcy and need more time to negotiate reaffirmation agreements. It is particularly useful for those who are unsure about their financial situation or require assistance in understanding their obligations under existing secured loans.
Legal use and context
The Motion to Enlarge Time for Filing Reaffirmation Agreements is used in the context of bankruptcy law. Under the Federal Rules of Bankruptcy Procedure, debtors are required to submit reaffirmation agreements within a specific timeframe. If they cannot meet this deadline, they must file this motion with the bankruptcy court to request an extension. It is crucial for maintaining the rights to secure property while navigating bankruptcy.
Benefits of using this form online
Choosing to complete the Motion to Enlarge Time for Filing Reaffirmation Agreements online offers several advantages:
- Convenience: Users can complete and file the form from home, avoiding trips to the courthouse.
- Instant access: Downloadable templates ensure immediate availability, allowing users to get started quickly.
- Guidance: Online platforms often provide instruction and tips for completing the form correctly, reducing the likelihood of errors.
Common mistakes to avoid when using this form
When filing a Motion to Enlarge Time for Filing Reaffirmation Agreements, it is important to avoid certain mistakes, such as:
- Failing to include the new deadline for filing the agreements.
- Not stating that it is the first motion for an extension.
- Ignoring to add the required signatures and contact information of the debtor or attorney.
What to expect during notarization or witnessing
Although the Motion to Enlarge Time for Filing Reaffirmation Agreements usually does not require notarization, it is recommended to check local jurisdiction requirements. If notarization is needed, expect the following:
- Visit a notary public to have the document signed in their presence.
- Present identification to verify your identity.
- Understand that the notary will confirm that you are signing willingly and are fully aware of what the document entails.
Key takeaways
Understanding the Motion to Enlarge Time for Filing Reaffirmation Agreements is essential for debtors in bankruptcy. Key aspects include:
- It is a request for an extension of time to file important agreements.
- Caution should be exercised to ensure the motion is completed accurately.
- Utilizing online resources can streamline the filing process considerably.
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FAQ
Secured debts like mortgages are still debts and therefore can be discharged through bankruptcy. But, the only way to keep the item securing the debt is to continue to pay for them. Reaffirmation agreements for mortgages are possible, but not necessary. They are, however, always subject to court approval.
Can you file a reaffirmation agreement after discharge? Once a discharge order has been entered in your bankruptcy case, you can no longer reaffirm any of the debts included in the discharge agreement. The same goes for if your case has been closed by the court.
No creditor can make you reaffirm a debt. This is because a reaffirmation goes against the most basic upside of filing bankruptcy: the fresh start. You cannot be sent to collections, sued, or garnished on a debt that was discharged in bankruptcy.
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.
An executed reaffirmation agree- ment may be filed by any party, including the debtor or a creditor. It must be filed within 60 days after the first date set for the first meeting of creditors in the bankruptcy case unless the deadline is extended by the bankruptcy court.
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.
You can keep your car and continue making the payments by entering into a reaffirmation agreement with your car lender during your bankruptcy case. It's up to the bankruptcy court to approve a reaffirmation agreement or up to your attorney, if you have one, to sign off on it.
The deadline to cancel a reaffirmation agreement is the later of these two dates: 60 days after the date the agreement is filed with the Court; or ? the date the Bankruptcy Court issues a discharge in your case.