THIS COMING THURSDAY!
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Creditors want them. Debtors’ attorneys hate them. Debtors often don’t understand them. Courts vary on whether they will approve them. Congress was wary of them and established very specific rules for documenting them. Failing to comply with those rules can have serious consequences immediately or years later.
What are “reaffirmation agreements” anyway?
Why do you want them? If the debtor is paying, why does it matter? Why don’t debtors’ lawyers and some courts like them? Why do debtors file statements saying they will reaffirm, but then refuse to respond when you send an agreement? Are reaffirmations something you are entitled to get? What are your options if you can’t get one? Can you violate the automatic stay just by asking for a reaffirmation?
If the debtor will reaffirm, how should you prepare the paperwork? What is the “cover sheet” and what risks do you have when preparing it? Some of the things in the official forms don’t make sense—can you make changes and, if so, how? Are you better off just letting the debtor’s lawyer do the paperwork?
So many questions!
Attorney Eric North has prepared and litigated reaffirmation agreements for more than 25 years. During this webinar, he will help participants understand what the rules, your rights and your obligations really are. The program will include a discussion of—
- What a “reaffirmation” is and what your rights are if the debtor (or the debtor’s attorney or the court) refuses to give you one.
- How to avoid trouble because of the way you ask for a reaffirmation agreement.
- The two deadlines—one hard and one soft—for completing and filing a reaffirmation agreement.
- Why there are two versions of the official reaffirmation form and how to complete each.
- Risks when completing the reaffirmation “cover sheet” and how to deal with them.
- Common errors creditors and debtors’ attorneys make when completing reaffirmations and reaffirmation cover sheets.
- Changes or notations to consider making to the reaffirmation forms and the reaffirmation cover sheet.
- What to expect at a court reaffirmation hearing? Do you need an attorney?
- What to do if the judge will not approve your reaffirmation agreement.
For more information, call NorthLegal at 623.537.7150
AVAILABLE ARCHIVED NORTHLEGAL WEBINARS
BANKRUPTCY
Bankruptcy 101: Introduction to Consumer Bankruptcy
Bankruptcy 102: The Automatic Stay
Bankruptcy 103: Dealing with Nonbankrupt Coborrowers
Bankruptcy 104: What Happens When the Bankruptcy is Over?
COLLECTIONS
Collections 101: Introduction to Consumer Collections Law
Drafting and Enforcing Cross-Collateral Clauses
Repossessing Motor Vehicles, Part I: What to Know and Do Before You Pick Up the Collateral
Repossessing Motor Vehicles, Part II: After the Repossession Denial of Credit Union Services
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