can someone please explain this rule to me...does this mean that I have to sign the reaff document?
Thank you
Thank you
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Arizona's local Rule 4008-1 requires the following IF you are going to reaffirm:
1. The Reaffirmation Agreement must contain certain terms and be signed by both the creditor and the debtor.
2. The debtor and creditor must sign the reaff before the entry of the discharge.
3. If the debtor has an attorney, the attorney must sign the appropriate affidavit.
4. If the debtor does not have an attorney or the attorney will not sign the affidavit then a Motion to Approve the Agreement must be filed and a Hearing must be held.
Since the Agreement is normally drafted by the creditor and sent to the Debtor, or Debtor's Counsel if there is one, there is nothing for you to do. If you want to sign you can. If you don't want to sign you do not have to. However, if we are talking about personal property (not real estate), and depending upon which Judge you have, if you do not sign the lender may repo its collateral even if you are current.
Hope this helps.
Des. -
Should I call them and ask their intestions? or try and get the APR to 1% and then agree to sign the papers?Comment
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