Although unreassigned confirmation agreements are legally unenforceable, many debtors believe that the agreements they have signed are enforceable. A person can continue to pay bills each month when they arrive in the mailbox and believe they have to give up assets if they cannot maintain payments. National courts can also be misled: Unfiled reaffirmation agreements may look exactly like valid confirmation agreements. As a result, these agreements provided retailers with the basis to recover debts in violation of the discharge order. Loans on almost all conditions would be greater than the economic reality of these conditions. Nevertheless, counsel for the debtor had signed the affidavit stating that the debtor had been fully informed of the consequences of the proposed confirmation and that counsel believed that the agreement would not impose inappropriate severity, when the debtor already had a negative monthly cash flow of more than $750. (333) 320 VISA CONSUMER BANKRUPTCY REPORTS, CONSUMER BANKRUPTCY: BANKRUPTCY DEBTOR SURVEY 12 (July 1996). Professors Culhane and White report that 28.1% of debtors had one or more confirmations in their files. Marianne Culhane and Michaela White, Memorandum to National Bankruptcy Review Commission, Creighton Bankruptcy Reaffirmation Project Preliminary Results, Table 19 (September 23, 1997). Back to text 387 See z.B. In re Wincher, 210 B.R. 286 (Bankr. E.D.
Me. 1997) (the sale of furniture by the debtor was not intentional and malicious prejudice when the debtor was not aware of the guarantee agreement); In re Crisafi, 205 B.R. 444 (Bankr.M.D. Fla. 1996); In re Goyeochea, 192 B.R. 847 (Bankr. D. Md. 1996) (Retailers sell products with the tacit agreement to give products in the form of gifts to others, i.e. on that basis. But see Sears Roebuck and Co., v. Taylor, 96-06051-8c7, 1997 WL 418035 (Bankr.M.D.
Fla. 1997) (fair market value of security excluding dismissal). The return to the text, Section 521, paragraph 2, should be amended to clarify that a debtor with consumer debts secured by the property of the estate pursuant to Title1 must exchange the property or obtain judicial authorization for an agreement under Section 524 (c) to retain the property after discharge, with the exception of a security interest in real estate or personal property which is the principal residence of the debtor.