Local Rule 4008-1: Reaffirmation Agreement; Notice of Rescission.

Rule 4008-1. Reaffirmation Agreement; Notice of Rescission.

(a) Certain documents not required. Notwithstanding any suggestion to the contrary in any official form or director's form issued by the Administrative Office of the United States Courts, a debtor need not file a motion seeking approval of a reaffirmation agreement, and notwithstanding Fed.R.Bankr.P. 4008(a), a reaffirmation agreement cover sheet (Official Form 427) need not be filed if the reaffirmation agreement is with a credit union as defined in § 19(b)(1)(A)(iv) of the Federal Reserve Act.

(b) Document in support of a reaffirmation agreement.

(1) Affidavit. Any attempted rebuttal of a presumption of undue hardship shown in a reaffirmation agreement that is based in whole or in part on the debtor's receipt of financial assistance from another person shall include, as an attachment to the reaffirmation agreement, an affidavit of the person from whom such financial assistance will be received. The affidavit shall state the amount of financial assistance the affiant will provide and demonstrate the affiant's financial ability to provide that amount of financial assistance.

(2) Supplement. If a debtor needs to supplement a reaffirmation agreement to better set forth present income and expenses, as required by 11 U.S.C. § 524(k), or to rebut a presumption under 11 U.S.C. § 524(m) that the reaffirmation agreement imposes an undue hardship on the debtor and any dependents, the debtor shall file a supplement to the reaffirmation agreement that conforms to Appendix 4L and shall serve the supplement on parties in interest not electronically served, including the creditor who is the other party to the reaffirmation agreement.

(c) Notice of rescission. A debtor's notice of rescission regarding a reaffirmation agreement shall conform to Appendix 4M. The original notice of rescission shall be served on the creditor whose debt was reaffirmed, and a copy of the notice of rescission shall be served on the creditor's attorney, if known. A certificate of service, with a copy of the notice of rescission attached, shall be filed with the Court to evidence the debtor's compliance with this rule.

REFERENCES: 11 U.S.C. § 524; Fed.R.Bankr.P. 4008. See Bankr. D.S.D. R. 4004-1(b) regarding a motion to extend the time to file a reaffirmation agreement and the attendant Practice Pointers.