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.
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5.0/5.0Great process. Detailed communication provided resources for rebuilding. Would recommend!
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5.0/5.0
I had an excellent experience working with my bankruptcy attorney. From the very beginning, they were professional, knowledgeable, and compassionate. Filing bankruptcy can be overwhelming, but they took the time to explain every step of the process, ...
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5.0/5.0
I had a great experience using Jeff Field and Associates for filing my Bankruptcy. Everyone was very professional and helpful. Connie Adams was so knowledgeable and patient with all of my questions I’m so glad that I chose this law firm and would r...
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5.0/5.0
Great experience from start to finish. The process was smooth and stress-free, and Ms. Connie was amazing throughout—very helpful, professional, and supportive. I truly appreciate all the guidance and would highly recommend this firm.
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5.0/5.0
I'm just finishing up 5 years of bankruptcy, and I honestly don't know how I would've done it without this Group. Everyone was super professional every time I reached out with questions, and they were always there to answer them. I eve...
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