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Form 240A Reaffirmation Agreement 107

Form 240A Reaffirmation Agreement 107

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What makes the form 240a reaffirmation agreement 107 legally binding?

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Quick guide on how to complete form 240a reaffirmation agreement 107

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Instructions and help about Form 240A Reaffirmation Agreement 107

reaffirmation is where you agree to repay a debt after the bankruptcy case has been filed most commonly this is on an automotive purchase so if you want to keep your vehicle your lender is going to send us a reaffirmation agreement that we're going to have you sign that put you back on the hook for that vehicle the terms are going to be the same so it's the same monthly payment same interest rate you're just agreeing to go back on the hook now this is important because if six months or a year down the road something were to happen in that vehicle you're on the hook for the balance so make sure you want to keep and make those payments before you agree to a reaffirmation agreement going forward

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