Local Rule 4008-1: REAFFIRMATIONS

RULE 4008-1. REAFFIRMATIONS.

(a) General Requirements. Reaffirmation agreements must comply with § 524(k), be filed on Official Form 2400A ("Reaffirmation Documents") and include a completed Official Form 427 ("Cover Sheet for Reaffirmation Agreement"). The party seeking approval of a reaffirmation agreement must file and serve both Official Form 2400A and Official Form 427 on the debtor, the debtor's attorney (if any), and the United States Trustee. See also Vt. LB Appendix III ("Reaffirmation Agreement Flow Chart"); Vt. LB Appendix IV ("Reaffirmation Agreement Checklist").

(b) Additional Requirement When Debtor Identifies a Third Party as Additional Source of Funds. If a debtor seeking to overcome a presumption of undue hardship files a written statement that identifies a third party as an additional source of funds for making the payments under the reaffirmation agreement, that third party must either appear and present testimony affirming their ability and commitment to provide such additional funding or file an affidavit or certification made under penalty of perjury indicating:

(1) their relationship to the debtor;

(2) their ability and willingness to assist the debtor;

(3) their commitment is voluntary, and is not a guarantee or promise of payment in favor of the creditor; and

(4) their assistance may be a basis for the Court's approval of the reaffirmation agreement.

(c) When a Motion and Order are Not Required. No motion for approval of a reaffirmation agreement is necessary to reaffirm a debt (1) secured by real property, or (2) held by a credit union (as "credit union" is defined in § 19(b)(1)(A)(iv) of the Federal Reserve Act, codified at 12 U.S.C. § 461(b)(1)(A)(iv)).