4 Questions
What can a debtor do if the court refuses to approve a reaffirmation agreement?
The debtor can 'ride through' the bankruptcy if all requirements under § 521 and 362(h) are timely complied with.
What was the reason for the court's refusal to approve the reaffirmation agreement in the case of In re Moustafi?
The debtor's income would be a negative amount after deducting the car payment and other monthly expenses.
What action did Vantage credit union intend to take if the reaffirmation agreement was not approved?
Repossess the car.
What did the courts say about the availability of 'ride through' after 2005?
Courts said 'ride through' is not available anymore after 2005.
Test your knowledge of bankruptcy law with this quiz on ride-through top level theory. Explore the concept of making payments on a car and avoiding liability for deficiency. Learn about the changes in the availability of ride-through after 2005 and the best strategies to navigate reaffirmation agreements and court approvals.
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