Redwood City Bankruptcy: Reaffirming Personal Property
A “reaffirmation” is a voluntary agreement between the debtor and creditor that the debtor will pay all of a portion of an otherwise dischargeable debt after the the debtor filed bankruptcy. The creditor can promise not to repossess and automobile or other property provided that the debtor makes the scheduled payments, but the reaffirmation agreement must be made prior to the granting of a discharge. Our Redwood City attorneys at Sagaria Law will make all of the arrangements fo to reaffirm debts on home, car or other household goods. Many credit card companies are also willing to reaffirm an individual’s debt with them and reinstate his line of credit after Chapter 7 or Chapter 13 bankruptcy. Although we are happy to arrange reaffirmation agreements on these debts as well, we strongly warn our clients to avoid getting back into the credit card trap.