Free Legal Forms
Applications
Bankruptcy Forms
Business Forms
Child Custody
Leases
Partnership forms
Property Related Forms
Real Estate
Rent
 
 
 
It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

REAFFIRMATION AGREEMENT

REAFFIRMATION AGREEMENT

PROVIDING FOR DEBTOR’S RETENTION OF AUTOMOBILE

 

Agreement made, effective as of _______________, by and between ______________ _______________, of ___________________________________________ (Address), in the County of ___________________________________,  referred to as debtor, and ___________________________________, of ________________________________

_____________________________ (Address),  in the County of _________________, referred to as secured party.

 

SECTION ONE

BANKRUPTCY OF DEBTOR

 

The debtor has filed a voluntary petition for relief under Chapter _________________ of the bankruptcy laws of the United States in the Bankruptcy Court or the District of __________________________.

 

SECTION TWO

COLLATERAL

 

The secured party has a valid perfected security interest in the described automobile(s) described below, referred to as the collateral: _________________________________

_____________________________________________________________________.

 

SECTION THREE

AGREED VALUE OF COLLATERAL

 

The above-described collateral has the following value: _________________________.

 

 

SECTION FOUR

DEBTOR’S DESIRE TO RETAIN COLLATERAL

 

The debtor wishes to retain the collateral, and represents payment of the agreed-upon value is in __________ (His or Her) best interest and will not impose undue or extreme hardship on __________ (Him or Her) or any of __________ (His or Her) dependents.

 

SECTION FIVE

TRUSTEE’S ABANDONMENT OF COLLATERAL

 

The trustee in bankruptcy __________ (Has or Has Not) abandoned the collateral.

 

SECTION SIX

SECURED PARTY’S ACQUIESCENCE

 

The secured party agrees to allow debtor the continued possession of the automobile if debtor makes the payments set forth in Section Eight.

 

SECTION SEVEN

SECURED PARTY’S RIGHT TO POSSESSION

 

The secured party is entitled to possession of the collateral in accordance with the terms of the security agreement that covers the collateral, except for the automatic stay in this bankruptcy proceeding. According to the provisions of the Bankruptcy Code, the secured party would be entitled to relief from the stay were the procedures required carried out.

 

SECTION EIGHT

SCHEDULE OF PAYMENTS BY DEBTOR

 

The debtor agrees to pay the secured party the value of the collateral, $_____________

according to the following schedule: ________________________________________ ______________________________________________________________________ _____________________________________________________________ (Describe). The debtor also agrees to keep the automobile(s) insured, in an amount and with an insurer satisfactory to secured party with loss payable to secured party.

 

SECTION NINE

SECURITY AGREEMENT TO REMAIN IN FORCE

 

The security agreement that covers the collateral, a copy of which is attached, will remain in full force and effect and default under this agreement will entitle the secured party to exercise the remedies that are provided for in the security agreement.

 

SECTION TEN

AGREEMENT MADE IN COMPLIANCE WITH LAW

 

This agreement is made pursuant to and subject to the provisions of Local Bankruptcy Rule 4006 and 4005 and shall be effective on filing of the agreement with the clerk of the bankruptcy court.

 

Dated: _______________.

 

 

_____________________________________________________,

Signatures of Debtor

 

_____________________________________________________,

Debtor’s Attorney

 

_____________________________________________________,

Secured Party

 

(Titles, as appropriate)

 

(Attachments)

 

Approved by the Trustee on _____________ (date).

 

 

__________________________________________,

Signature

 

__________________________________________,

(Title)

 

 

 



Printer Friendly Version




 © 2017 WHP Inc.