An Order Granting Motion to Enlarge Time for Filing Reaffirmation Agreements is a court order issued by a judge that grants a debtor more time to submit a reaffirmation agreement. Reaffirmation agreements are written contracts between the debtor and a creditor that allow a debtor to keep a secured debt, like a car loan or mortgage, active after the bankruptcy case has been discharged. If the debtor wishes to keep the secured debt, they must sign the reaffirmation agreement and file it with the court. Two types of Order Granting Motion to Enlarge Time for Filing Reaffirmation Agreements exist: (1) an order granting an extension of time to file the reaffirmation agreement and (2) an order granting an increase in time to file the reaffirmation agreement. The order granting an extension of time is used when the debtor has already missed the deadline for filing the reaffirmation agreement, while the order granting an increase in time is used when the debtor wishes to extend the time limit beyond the original deadline. Both types of orders must be signed by the judge and filed with the court.
Order granting motion to enlarge time for filing reaffirmation agreements
Description Order Motion Document
How to fill out Motion Filing File?
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Motion Filing Other Form Names
Granting Motion Make FAQ
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.
A reaffirmation agreement is a new contract with the lender that says you'll be responsible for the debt on your car and the lien will stay in place, even though your other debts are being discharged in bankruptcy. Most lenders will require a reaffirmation agreement if you want to keep your car.
If you reaffirm a debt and then fail to pay it, you owe the debt the same as though there was no bankruptcy. The debt will not be discharged, and the creditor can take action to recover any property on which it has a lien or mortgage. The creditor can also take legal action to recover a judgment against you.
You will likely have to default on the loan before the lender takes such an action, but if you don't reaffirm, you'll live in a legal gray area. Your lender can take your home even if you make all your payments, as you are no longer obligated under the terms of the promissory note.
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 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.
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.
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.
