How To Get a Reaffirmation Agreement in Chapter 7 Bankruptcy
If you are considering filing for Chapter 7 bankruptcy, you may be wondering if it is possible to get a reaffirmation agreement. A reaffirmation agreement is a new contract between you and your creditor that states you will continue to make payments on your debt even after your bankruptcy is discharged.
There are a few things to keep in mind if you are hoping to get a reaffirmation agreement. First, you must have the ability to repay the debt. This means that you must have a steady income and enough disposable income to make the payments. Second, you must show that you need the property that is secured by the debt. For example, if you are trying to reaffirm a car loan, you would need to show that you need the car for transportation to work or school.
If you can meet these requirements, then you can negotiate a reaffirmation agreement with your creditor.
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