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 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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5.0/5.0
Starting the process of bankruptcy can seem scary. However, working with Jeff Field & Associates made it very easy. They explained everything so clearly and helped my spouse and I, walk through every step of the process. Definitely recommend!
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5.0/5.0
I highly recommend them the did a great job with my case and made the steps very easy they worked with me every step of the way on completing all my paperwork highly recommended them
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5.0/5.0
A few months ago, I had to file for bankruptcy, and this team made the whole process so smooth. They answered every single question I had and walked me through everything step by step. Honestly, all I had to do was sit back and let them handle it; Th...
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