Loans > Loan Screens > Bankruptcy and Foreclosure Screen Group > Bankruptcy Detail Screen > Field Descriptions > Actions and Dates field group

If you have received a notice that the reaffirmation of debt has been rescinded by the Bankruptcy Court, run the Reaffirmation Rescinded transaction. The way this transaction is run differs slightly if your institution uses the Standard Reaffirmation or the Simple Reaffirmation. A Reaffirmation Rescinded transaction is only available if a Reaffirmation has previously been processed. Perform this transaction by following the steps below:

When a reaffirmation is rescinded, the changes that occurred during the Reaffirmation are reversed (see Effects of Reaffirmation: Standard and Effects of Reaffirmation: Simplified). Additionally, the Consumer Information Indicator reported to credit repositories becomes "V - Chapter 7 Reaffirmation of Debt Rescinded."

1.	Select the box next to the name (or names) in the top list view table for which you want to dismiss the bankruptcy.
2.	Select the Reaffirmation radio button in the Actions and Dates field group. The Reaffirmation dialog box is displayed.
3.	Select the Select box(es) next to the names for whom you want to rescind the reaffirmation.
4.	Select the Reaffirmation Rescinded radio button, then select the date the reaffirmation was rescinded. Generally, this notice is received by your institution from the Bankruptcy Courts, and the date the reaffirmation was rescinded will be on the notice.
5.	Click <Run Transaction>, and then click <Close>. See the following example displaying these steps.

1.	Select the box next to the name in the top list view table for which you want to dismiss the bankruptcy.
2.	Select the Reaffirmation Rescinded radio button.
3.	Enter a transaction date in the field to the right of the radio button, as shown below. The date needs to be after the date of reaffirmation. See example below of these first three steps.
4.	Click <Verify Transaction> to open the Verify Accounts dialog, as shown below.
5.	Select the appropriate owners names in the top list view.
6.	Click <Run Transaction>. The reaffirmation on the customer's account will be rescinded.