Source: https://weberlaw.com/BAPCPA/code/05/clean/code-clean-05-524.htm
Timestamp: 2019-05-19 21:32:57
Document Index: 478207813

Matched Legal Cases: ['§ 524', '§ 308', '§ 257', '§ 103', '§ 501', '§ 202', '§ 1210', '§ 2', '§ 524']

11 U.S.C. § 524 - Clean
(a) Protection provided by discharge
(b) Exceptions to discharge injunction
(c) Reaffirmation agreements - general requirements
(d) Discharge hearing
(e) Liability of other entities for discharged debts
(f) Voluntarily repayment of discharged debts
(g) Supplemental injunctions in chapter 11 cases involving asbestos claims
(h) Supplemental injunctions in chapter 11 cases; application to existing injunctions
(i) Failure of creditor to credit payments received under confirmed plan
(j) Seeking payment of secured claim in lieu of in rem relief
(k) Reaffirmation agreements - required disclosures, forms and declarations
(2) Clear, conspicuous and in writing
(3) Disclosures - required text
(4) Reaffirmation agreement - required form
(5) Attorney declaration - required text
(6) Debtor statement in support of agreement - required text
(7) Motion to approve agreement - required text
(8) Order approving agreement - required text
(l) Reaffirmation agreements - acceptance of payments under reaffirmation agreements
(m) Reaffirmation agreements - presumption of undue hardship, court review and requirements for rebuttal of presumption
(d) In a case concerning an individual, when the court has determined whether to grant or not to grant a discharge under section 727, 1141, 1228(a), or 1328 of this title, the court may hold a hearing at which the debtor shall appear in person. At any such hearing, the court shall inform the debtor that a discharge has been granted or the reason why a discharge has not been granted. If a discharge has been granted and if the debtor desires to make an agreement of the kind specified in subsection (c) of this section and was not represented by an attorney during the course of negotiating such agreement, then the court shall hold a hearing at which the debtor shall appear in person and at such hearing the court shall—
(ii) if, at the time the petition is filed, the debt is an extension of credit other than under an open end credit plan, as the terms "credit "and "open end credit plan" are defined in section 103 of the Truth in Lending Act, then—
(i) by making the statement: "Your first payment in the amount of $_____ is due on _____ but the future payment amount may be different. Consult your reaffirmation agreement or credit agreement, as applicable.", and stating the amount of the first payment and the due date of that payment in the places provided;
(I) The following statement: "Note: When this disclosure refers to what a creditor "may" do, it does not use the word "may" to give the creditor specific permission. The word "may" is used to tell you what might occur if the law permits the creditor to take the action. If you have questions about your reaffirming a debt or what the law requires, consult with the attorney who helped you negotiate this agreement reaffirming a debt. If you don’t have an attorney helping you, the judge will explain the effect of your reaffirming a debt when the hearing on the reaffirmation agreement is held.".
"What if your creditor has a security interest or lien? Your bankruptcy discharge does not eliminate any lien on your property. A 'lien' is often referred to as a security interest, deed of trust, mortgage or security deed. Even if you do not reaffirm and your personal liability on the debt is discharged, because of the lien your creditor may still have the right to take the property securing the lien if you do not pay the debt or default on it. If the lien is on an item of personal property that is exempt under your State’s law or that the trustee has abandoned, you may be able to redeem the item rather than reaffirm the debt. To redeem, you must make a single payment to the creditor equal to the amount of the allowed secured claim, as agreed by the parties or determined by the court."
"6. If you were represented by an attorney during the negotiation of your reaffirmation agreement, your reaffirmation agreement becomes effective upon filing with the court."
"Date of creditor acceptance:"
"I hereby certify that, (1) this agreement represents a fully informed and voluntary agreement by the debtor; (2) this agreement does not impose an undue hardship on the debtor or any dependent of the debtor; and (3) I have fully advised the debtor of the legal effect and consequences of this agreement and any default under this agreement.
(C) In the case of a reaffirmation agreement under subsection (m)(2), subparagraph (B) is not applicable .
"1. I believe this reaffirmation agreement will not impose an undue hardship on my dependents or me. I can afford to make the payments on the reaffirmed debt because my monthly income (take home pay plus any other income received) is $_____, and my actual current monthly expenses including monthly payments on post bankruptcy debt and other reaffirmation agreements total $_____, leaving $_____ to make the required payments on this reaffirmed debt. I understand that if my income less my monthly expenses does not leave enough to make the payments, this reaffirmation agreement is presumed to be an undue hardship on me and must be reviewed by the court. However, this presumption may be overcome if I explain to the satisfaction of the court how I can afford to make the payments here: _____
(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2592; Pub. L. 98-353, title III, § 308, 455, July 10, 1984, 98 Stat. 354, 376; Pub. L. 99-554, title II, § 257(o), 282, 283(k), Oct. 27, 1986, 100 Stat. 3115-3117; Pub. L. 103-394, title I, § 103, 111(a), title V, § 501(d)(14), Oct. 22, 1994, 108 Stat. 4108, 4113, 4145; Pub. L. 109-8, Title II, Subtitle A, §§ 202, 203(a), Title XII, § 1210, April 20, 2005, 119 Stat. 43, 194; Pub. L. 111-327, § 2(a)(19), Dec. 22, 2010, 124 Stat. 3559.)
HISTORICAL AND REVISION NOTES (11 U.S.C. § 524)
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