Reaffirmation Agreements- What is it? Do I need to sign one?
Often, secured creditors send a “reaffirmation agreement” to the debtor or debtor’s counsel. A reaffirmation agreement is a new contract signed between the debtor and the creditor/lender that reaffirms the debtor’s original contractual obligation with that specific creditor/lender over the secured item (i.e. a vehicle or motorcycle).
Bankruptcy planning, especially determining which chapter for relief to file, is difficult enough. Adding the decision whether to sign a reaffirmation agreement or not during the petition process creates additional complexities that must be properly evaluated by a knowledgeable bankruptcy attorney. As a highly skilled bankruptcy attorney, I make it my goal to provide each client dedicated the time and experience to assist clients with their bankruptcy filing.