"New York Reaffirmations Agreement Form"

In Chapter 7 cases, New York bankruptcy courts allow debtors to retain collateral used as security for dischargeable debts. Past due amounts must be brought current. Debtors must agree in writing to continue payments. Court approval is required yet seldom denied. In effect, a reaffirmation agreement excludes a specific secured debt from discharge.

Bankruptcy terminology tends to highly technical, complex, and somewhat confusing to general practioners. For consumer debtors filing for the first time, the terms and phrases can be daunting. The most accurate means of resolving questions of law necessarily relies upon the advice and counsel of local lawyers and law firms who are familiar with customs within the Division and District in which they practice. Attorneys who regularly practice before federal courts must be licensed not only by the New York State Bar, but also by the Federal Court for each Division. This additional license requires familiarity with local rules and the recommendation of other attorneys who previously received federal approval. Also be aware, federal employees are prohibited to provide parties in interest what may be deemed as legal advice.

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