In Re McCreless

ORDER ON DEBTOR’S PETITION TO SET ASIDE REAFFIRMATION AGREEMENT

LEWIS M. KILLIAN, Jr., Bankruptcy Judge.

This matter is before the Court on the Debtor’s Petition to Set Aside Reaffirmation Agreement. This case is an illustrative example of why debtors should be wary of entering reaffirmation agreements with creditors. On October 25, 1991, the debtor filed his petition for protection under Chapter 7 of Title 11, United States Code. Two weeks later, on November 8, 1991, he executed a reaffirmation agreement with the First National Bank of At-more (“Bank”) for a debt secured by a Tractor/Lawn…