To Reaffirm or not Reaffirm: That Really Is The Tough Question

Chapter 7 debtors who have debt that is secured by property have a number of options, and among them is reaffirmation. A simple way of describing it: when a debtor reaffirms a debt, they are removing the debt from the bankruptcy and are agreeing to pay it. Such agreements – to be enforceable – must be reduced to writing and approved by the Bankruptcy Court. But since 2005, when Congress amended the Bankruptcy Code, attorneys who represent chapter 7 debtors have been struggling with a dual rule: that of attorney and counselor, and that of judge.

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