The U.S. Court Administration has entered into a U.S. confirmation agreement containing the legal information, as well as a confirmation agreement to obtain a large number of confirmed commitments. [15] This confirmation agreement for this form may very well work for a vanilla affirmation, especially if the debtor is not late, but for a more complex agreement (or an agreement in which a backlog must be corrected) consider adding a separate written confirmation agreement to the form – there is no obligation to use the part of the form confirmation agreement (Annex B of the form) – the form of the confirmation agreement itself may be “a separate agreement you and your creditor agree on this point. [16] Confirmation agreements are often major changes to the credit, which include changes in interest rates, abandonment of fees, payment leave, stair payments or interest rates, as well as other provisions approved by the debtor and creditor. Trying to put custom terms into a preprinted form is not only crazy, but also increases the risk that the debtor (or court) will misinterpret the terms of the confirmed agreement. To ensure that the debtor clearly fulfills his or her obligations under the confirmed debt, you should consider adding a formal loan modification agreement to the formal confirmation agreement. The debtor may revoke a confirmation agreement by resigning the creditor before going to the debtor`s discharge or within 60 days of filing the agreement, depending on what happens later. [8] Think of the case of a bank with a security interest in the debtor`s vehicle and an unsecured debt resulting from a credit card. The bank requires the debtor to confirm the two debts in order to retain the vehicle and sends the debtor separate agreements proposing to repeat the two debts in accordance with their respective contractual terms.

The debtor signs both and they are deposited on time. The bank seems to have won the battle. However, it will lose the war, because as soon as the debtor renounces the credit card agreement, the bank will have no legal basis to take back the vehicle, unless the debtor is late for the confirmed loan for the vehicle.