What is a reaffirmation agreement?

Get Legal Help Today

 Secured with SHA-256 Encryption

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

UPDATED: Jul 16, 2021

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

A reaffirmation agreement is a contract between you and the creditor that you will pay all or a portion of the money owed, despite the bankruptcy filing. In return for keeping your property after the bankruptcy, the creditor promises that, as long as payments are made, the creditor will not repossess or take back the property. Some people enter reaffirmation agreements to prevent a creditor from pursuing a co-debtor (co-signor), like a family member. 

Before entering into such an agreement, ask an attorney to ensure that your rights are protected and that any reaffirmation is in your best interest. A copy of the reaffirmation agreement must be filed with the court. If you are not represented by an attorney in your bankruptcy case, the reaffirmation agreement will have to be approved by the bankruptcy judge. The judge will ask questions to determine whether the reaffirmation agreement imposes an undue burden on you or your dependants and whether it is in your best interests. Since reaffirmed debts are not discharged, the bankruptcy court will normally only reaffirm secured debts where the collateral is important to your daily activities (i.e., a car). You may have to demonstrate to the judge where you intend to get the additional funds to make payments on the reaffirmed debt. In any case, you’ll have a cooling-off period in which to cancel the reaffirmation agreement if you change your mind.

Reaffirmation agreements are strictly voluntary. They are not required by the Bankruptcy Code or other state or federal law.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption