You filed for Chapter 7 bankruptcy and had a balance due to the lender. Faced with what seemed to be certain repossession, you agreed to sign a reaffirmation agreement. All set, right? Not necessarily. There’s a moment in time when you reach a point of desperation. You need that car to get to work each…
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Category Archives: reaffirmations
Reaffirmation Agreements in Chapter 7
Much has been written already about reaffirmation agreements and this blog will not cover any new ground, but will provide a quick explanation for potential bankruptcy clients. A reaffirmation agreement is a contract entered into during the pendency of (usually) a Chapter 7 bankruptcy case which stops the particular debt from being discharged. In other…
Can You Only Bankrupt Certain Debts and Keep Others?
Whether you can discharge (bankrupt) specific debts and keep others is a question that over the years I get asked repeatedly. Actually, strangely enough, clients don’t ask it as a question. They state it as if it were completely possible. “I want to get rid of my large debts and keep the small ones”. After…