What Is a Reaffirmation Agreement in Bankruptcy?
Sawin & Shea
AUGUST 9, 2022
With a Chapter 13 bankruptcy, the debtor agrees to a payment plan to pay off their debt, which means they don’t have to surrender their property as collateral. For those that choose a Chapter 7 bankruptcy, a reaffirmation agreement can help protect property from being repossessed as collateral. Some criteria must be met.
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