119 STAT. 48
Applicability.
VerDate 14-DEC-2004
08:19 Oct 26, 2006
PUBLIC LAW 109–8—APR. 20, 2005 (take home pay plus any other income received) is $lll, and my actual current monthly expenses including monthly payments on post-bankruptcy debt and other reaffirmation agreements total $lll, leaving $lll 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: lll. ‘‘ ‘2. I received a copy of the Reaffirmation Disclosure Statement in Part A and a completed and signed reaffirmation agreement.’. ‘‘(B) Where the debtor is represented by an attorney and is reaffirming a debt owed to a creditor defined in section 19(b)(1)(A)(iv) of the Federal Reserve Act, the statement of support of the reaffirmation agreement, which the debtor shall sign and date prior to filing with the court, shall consist of the following: ‘‘ ‘I believe this reaffirmation agreement is in my financial interest. I can afford to make the payments on the reaffirmed debt. I received a copy of the Reaffirmation Disclosure Statement in Part A and a completed and signed reaffirmation agreement.’. ‘‘(7) The motion that may be used if approval of such agreement by the court is required in order for it to be effective, shall be signed and dated by the movant and shall consist of the following: ‘‘ ‘Part E: Motion for Court Approval (To be completed only if the debtor is not represented by an attorney.). I (we), the debtor(s), affirm the following to be true and correct: ‘‘ ‘I am not represented by an attorney in connection with this reaffirmation agreement. ‘‘ ‘I believe this reaffirmation agreement is in my best interest based on the income and expenses I have disclosed in my Statement in Support of this reaffirmation agreement, and because (provide any additional relevant reasons the court should consider): ‘‘ ‘Therefore, I ask the court for an order approving this reaffirmation agreement.’. ‘‘(8) The court order, which may be used to approve such agreement, shall consist of the following: ‘‘ ‘Court Order: The court grants the debtor’s motion and approves the reaffirmation agreement described above.’. ‘‘(l) Notwithstanding any other provision of this title the following shall apply: ‘‘(1) A creditor may accept payments from a debtor before and after the filing of an agreement of the kind specified in subsection (c) with the court. ‘‘(2) A creditor may accept payments from a debtor under such agreement that the creditor believes in good faith to be effective. ‘‘(3) The requirements of subsections (c)(2) and (k) shall be satisfied if disclosures required under those subsections are given in good faith. ‘‘(m)(1) Until 60 days after an agreement of the kind specified in subsection (c) is filed with the court (or such additional period as the court, after notice and a hearing and for cause, orders before the expiration of such period), it shall be presumed that such agreement is an undue hardship on the debtor if the debtor’s monthly income less the debtor’s monthly expenses as shown on the debtor’s completed and signed statement in support of such
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