Wisconsin Cover Sheet for Reaffirmation Agreement

State:
Wisconsin
Control #:
WI-SKU-0130
Format:
PDF
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Description

Cover Sheet for Reaffirmation Agreement

The Wisconsin Cover Sheet for Reaffirmation Agreement is a document used to reaffirm an existing debt with a creditor. The cover sheet contains information about the debtor, the creditor, and the terms of the debt reaffirmation agreement. The cover sheet must be completed and filed with the court prior to the reaffirmation agreement becoming legally binding. There are two types of Wisconsin Cover Sheet for Reaffirmation Agreement: the debtor version and the creditor version. The debtor version must be completed by the debtor and must include the debtor's name, address, Social Security number, date of birth, and a statement indicating that the debtor is voluntarily entering into the reaffirmation agreement. The creditor version must include the creditor's name, address, and a statement indicating that the creditor agrees to the terms of the reaffirmation agreement. Both versions must be signed and dated by both the debtor and the creditor. Once completed, the Wisconsin Cover Sheet for Reaffirmation Agreement must be filed with the court prior to the reaffirmation agreement becoming legally binding.

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FAQ

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.

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.

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 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.

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.

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.

More info

Cover Sheet for Reaffirmation Agreement. Download Form (pdf, 67.Explain how the debtor will make monthly payments on the reaffirmed debt and pay other living expenses. The coversheet is a summary of the terms of your reaffirmation agreement. It's required for every reaffirmation agreement. REAFFIRMATION AGREEMENT COVER SHEET. Use Fill to complete blank online US COURTS pdf forms for free. Once completed you can sign your fillable form or send for signing. P. 4008(a), a reaffirmation agreement cover sheet (Official Form 427) need not be filed if the reaffirmation agreement is with a credit union . The cover page alone of Form B240 helps an attorney meet her obligation to assure that a reaffirmation agreement is informed and voluntary.

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Wisconsin Cover Sheet for Reaffirmation Agreement