V 1.0 2012-02-16



Form 41Letter to Creditor Concerning Proposed Reaffirmation Agreement[Creditor][Address]RE:[Debtor][Bankruptcy number][Account number][Social Security number]Dear [creditor]:Please be advised that I represent the above debtor. I am writing in response to your letter dated [date], in which you have requested that my client enter into a reaffirmation agreement. In order to fully advise my client about the legal effect and consequences of a reaffirmation agreement, [and to satisfy Local Rule [number] of the United States Bankruptcy Court for District of [state], I will need additional information. My client’s account was listed as a general unsecured claim on her bankruptcy schedules because she did not have documentation showing that you properly acquired or have retained a purchase money security interest (PMSI) in the goods purchased on the account in accordance with [state] law. As your proposed reaffirmation agreement requests that I represent to the Court that you retain a PMSI, please provide the following information:(1) All documents signed by my client at the time the account was established in which my client agreed to create a PMSI as defined by [UCC § 9-107 or other state law]. Please also include a copy of the credit account agreement or any other documents which indicate the method of allocation of payments made on the account;(2) All documents signed by my client at the time of purchase which granted to you a PMSI in the items purchased, and with regard to prior purchases, establishes my client’s intention to continue any PMSI in goods financed by an earlier transaction;(3) All documents showing the dates and amounts of all charges (including interest and late fees) and payments made on my client’s account for the two year period preceding the filing of my client’s bankruptcy petition. In the event that you are still claiming a PMSI in any items purchased more than two years before the bankruptcy filing, kindly provide all such documentation from the time the items were purchased. This documentation should reflect the actual allocation of payments made on the account in reference to the specific items purchased.Please provide the following additional information so that I may fully advise my client with respect to your reaffirmation request.(1) A description of all collateral, including the manufacturer, year, model and any other pertinent identifying information; (2) The original purchase price of the collateral (excluding sales tax, service contracts and extended warranties);(3) The balance currently owed on the account, listing separately the amount owed for principal, interest, and other fees;(4) The present market value of the collateral, and a description of the method used to determine this value;(5) If interest is to be charged in connection with the reaffirmation agreement and/or additional charge privileges are to be extended, a statement setting forth the annual percentage rate, any annual or other fees imposed for the availability of the account, any minimum finance charges or transaction charges, any minimum payments, any applicable grace period, the balance-computation method, the due date for payments, and any late payment or over-the-limit charges; (6) If the reaffirmed amount is to be paid over a fixed term under the reaffirmation agreement, a statement setting forth the schedule of payments, including the number of payments, the amount of each payment, and the timing of payments scheduled to complete payment under the proposed agreement. In addition, please provide a copy of the disclosures that you intend to include on the proposed reaffirmation agreement in order to comply with the requirements of 11 U.S.C. § 524(k).Upon receipt of the above-requested information, I will consult with my client about her options. If you fail to respond to this letter, I shall assume that you have accepted my client’s classification of your claim as unsecured. If you have any questions concerning the above, please give me a call. Sincerely,[signature]Attorney for Debtor(s) ................
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