Louisiana Bankruptcy Lawyer - Bankruptcy Attorney

What is a reaffirmation agreement?

A reaffirmation agreement is an agreement between the Debtor and a creditor that the Debtor will pay all or a portion of the money owed, even though the Debtor has filed bankruptcy. In return, the creditor promises that, as long as payments are made, the creditor will not repossess or take back its collateral. This means that the Debtor will remain personally liable on that debt.

Refer to 11 U.S.C. § 524 Bankruptcy Code for detailed information.

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