Search Site
Menu
Should I Reaffirm a Debt in a Chapter 7 Bankruptcy Proceeding?

You may have heard that you can “reaffirm” a debt in a Chapter 7 bankruptcy proceeding.  The decision whether or not to reaffirm a debt is a delicate one, and best undertaken only with the assistance of a qualified Athens Chapter 7 bankruptcy lawyer, as it will affect your legal rights and obligations.

First of all, what does it mean to reaffirm a debt?  According to the U.S. Courts website, when you reaffirm a debt, you are making an agreement with a creditor that you will continue to pay all or a portion of a debt that otherwise would be discharged through the bankruptcy proceeding. By agreeing to this, the creditor agrees not to repossess or take back the property so long as you continue to make payments. The benefit to you is that you will get to keep your property.  Please be aware that you must reaffirm a debt before you receive a discharge, and you must sign a written reaffirmation agreement that is submitted to the court. The decision to reaffirm a debt is significant, and the courts will not allow it if it will cause you undue hardship.

Bankruptcy is a complicated process involving numerous legal steps.  The consequences for not following the process correctly can be severe. If you or a loved one is considering filing for a Chapter 7 bankruptcy, an Athens Chapter 7 bankruptcy lawyer can help you evaluate your situation and determine how best to proceed.

Please call Jeff Field and Associates at 404-381-1278 or contact us online to schedule your appointment.  We are ready to provide you with the help you need today.

Leave a Reply

Your email address will not be published. Required fields are marked *

Videos
Our Attorneys
Client Reviews
  • google
    5.0/5.0

    Jeff Fields & Associates, are the Best. Answer all my questions that I had about my case. Made it easy on me so that I had no worries. I strongly recommend them to my family and friends.

    Read more

    Darlene Hicks

  • lawyers
    5.0/5.0

    Jeff fields and his team were awesome. Kim answered all of my questions, and updated me every step of the way. I would definitely recommend using them for your bankruptcy.

    Read more

    Client

  • lawyers
    5.0/5.0

    We worked with Chris out of the Lawrenceville office and him and his team were outstanding! Answered all of our questions in a timely manner and went above and beyond to assist us! I would highly recommend this group to anyone who is having to go thr...

    Read more

    Client

  • google
    5.0/5.0

    The entire team was amazing, they really equipped me as to what to expect and made me feel like I was not alone. I had tons of questions and sometimes needed the reassurance that everything was going to be ok and Jeff Field & Associates did that for ...

    Read more

    Dominique C. Gibson

  • google
    5.0/5.0

    Matt and the staff where outstanding. Highly recommend. All questions where answered promptly and everything was explained in detail.

    Read more

    Jeff Weigold

See all reviews
Contact us

Please fill out the form below and one of our attorneys will contact you.

Quick Contact Form