60 Days to Rescind Reaffirmation Agreement
Reaffirmation agreements are governed by 11 U.S.C. § 524. Section 524 sets forth a series of disclosure requirements and includes very specific timing mechanics, including Section
524(c)(4), which provides in pertinent part:
(c) An agreement between a holder of a claim and debtor, the consideration for which, in whole or in part, is based on a debt that is dischargeable in a case under
this title is enforceable only to any extent enforceable under applicable non bankruptcy law, whether or not discharge of such debt is waived, only if —
. . .
(4) the debtor has not rescinded such agreement at any time prior to discharge or within sixty days after such agreement is filed with the court, whichever occurs
later, by giving notice of rescission to the holder of such claim….
11 U.S.C. § 524(c)(4).
A North Carolina Bankruptcy court refused to re-open the case to allow debtor to file a Reaffirmation agreement after the 60 day deadline.