Podcast
Questions and Answers
What is a Reaffirmation Agreement?
What is a Reaffirmation Agreement?
- An agreement to convert a Chapter 13 bankruptcy to Chapter 7
- An agreement made during a case to repay a discharged debt voluntarily
- An agreement to discharge a debt and relinquish all assets
- An agreement to reaffirm personal liability on a discharged debt to keep the assets (correct)
What is the purpose of a Reaffirmation Agreement?
What is the purpose of a Reaffirmation Agreement?
- To discharge all debts and start fresh
- To convert a Chapter 7 bankruptcy to Chapter 13
- To avoid liquidation of assets in bankruptcy (correct)
- To eliminate personal liability on discharged debts
When can a Reaffirmation Agreement be approved?
When can a Reaffirmation Agreement be approved?
- If the attorney disapproves it
- If the judge holds a hearing to approve it (correct)
- Only if the debtor has no other debts
- Automatically upon filing for bankruptcy
What happens to a discharged secured debt after a bankruptcy discharge?
What happens to a discharged secured debt after a bankruptcy discharge?
When can a reaffirmation agreement be entered into?
When can a reaffirmation agreement be entered into?
Does a reaffirmation agreement have to be filed with the bankruptcy judge?
Does a reaffirmation agreement have to be filed with the bankruptcy judge?
Can a creditor deal with the debtor directly in negotiating the terms of a reaffirmation agreement?
Can a creditor deal with the debtor directly in negotiating the terms of a reaffirmation agreement?
What type of debt should be reaffirmed?
What type of debt should be reaffirmed?
In the case of Aiello v. Providian, what was the court's ruling regarding damages for emotional injury?
In the case of Aiello v. Providian, what was the court's ruling regarding damages for emotional injury?
In the case of Aiello v. Providian, was seeking a reaffirmation agreement considered a stay violation?
In the case of Aiello v. Providian, was seeking a reaffirmation agreement considered a stay violation?
In the case of Bolen v. Bass, why did Best Buy not file the Reaffirmation Agreement with the court?
In the case of Bolen v. Bass, why did Best Buy not file the Reaffirmation Agreement with the court?
What was the consequence of Best Buy not filing the Reaffirmation Agreement with the court in the case of Bolen v. Bass?
What was the consequence of Best Buy not filing the Reaffirmation Agreement with the court in the case of Bolen v. Bass?
What was the exclusive remedy for the alleged violation of the Bankruptcy Code in the case of Bolen v. Bass?
What was the exclusive remedy for the alleged violation of the Bankruptcy Code in the case of Bolen v. Bass?
In which chapter of bankruptcy did the advice to consider if the creditor starts to play hardball and reaffirm unsecured debt come from?
In which chapter of bankruptcy did the advice to consider if the creditor starts to play hardball and reaffirm unsecured debt come from?
What type of court should the debtor have filed to in the case of Aiello v. Providian according to the takeaways?
What type of court should the debtor have filed to in the case of Aiello v. Providian according to the takeaways?
