Reaffirm

When a debtor reaffirms a debt, they have voluntarily decided to waive the bankruptcy discharge for that debt and responsibility for payment of the debt will continue unchanged after bankruptcy. Reaffirmation agreements are most often used for car loans in chapter 7 bankruptcy.

Glossary Terms: 
Discharge
Assets
Meeting of Creditors

Frequently Asked Questions

Our frequently asked questions also address Reaffirm:

Can I keep my car in bankruptcy?

Many debtors are able to keep their cars in bankruptcy. The basic strategies for keeping an automobile depend primarily on the value of the car, the existence and amount of a car loan, and the bankruptcy chapter chosen. Please contact our bankruptcy attorney to discuss the particulars of your situation.

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Can I not include some debts in a bankruptcy?

Generally no. Bankruptcy is an all-inclusive process, requiring full disclosure of all debts and assets. However, inclusion of a debt in your bankruptcy filing does not itself determine the final treatment of that debt.

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What are the Deadlines Set in a Chapter 7 Bankruptcy?

Several deadlines are set or set in motion after a chapter 7 case has been filed. Several of these are keyed to 341 meeting date that will be set within a few days of the case being filed. Each of these deadlines can be extended by the court upon timely request, and such extensions are not unusual.

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