We are filing Chapter 7 bankruptcy and want to discharge all unsecured debt, but we are current on home and car and will continue to make those payments. We will have to fill out a B240 reaffirmation agreement on these or just fill out the Chapter 7 Debtor intent form that says we will reaffirm?
2006-07-24 04:31:16 · 4 answers · asked by dragonslayer 1 in Business & Finance ➔ Credit
Reaffirmation agreement is for unsecured creditors whereas the Statement of Intention is for secured Creditors like car, and house. The Statement of Intentions is the proper place to "show" intentions to creditors and the Court regarding this debt.
See Nolo's Chapter 7 Bankrutpcy book which is in many public libraries.
Good Luck
2006-07-24 05:00:05 · answer #1 · answered by teenriodoll 3 · 4⤊ 0⤋
When filing chapter 7 you do not have to file your home or car if you do not want to.You can keep them and continue to make regular payments.If you get a really good attorney he/she should help you understand everything you should know about chapter 7.By the way I have also filed chapter 7 twice.
2006-07-24 04:41:44 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A Reaffirmation settlement got here about in the course of the assembly of lenders, the position your chum agreed to proceed paying on something (frequently a motor vehicle loan or loan, or something secured) that they did not favor to lose of their financial disaster. The reaffirmation will then be filed with the court, and should be licensed previous to discharge. So, it delays the launch, yet once the workplace artwork is finalized for the reaffirmation, the launch will finished not lengthy in a while. in short, that is not something to problem about, till your chum by no skill agreed to keep paying on something. in the experience that they did not, they prefer to talk with their financial disaster lawyer, rapidly.
2016-12-10 14:40:09 · answer #3 · answered by ? 4 · 0⤊ 0⤋
They will want you to reaffirm them with the form. They should fill out the form and provide them for you (or your attorney) for you to sign.
2006-07-24 04:43:01 · answer #4 · answered by Jeffrey S 6 · 0⤊ 0⤋