California and Nevada Bankruptcy Attorneys
If you file for Chapter 7 bankruptcy, a reaffirmation agreement will allow you to keep and pay for certain property, as if the debt were not discharged. If you possess a car, furniture or other property that is securing a debt, you may wish to consider signing a reaffirmation agreement to keep that property. However, you should always consult with an experienced bankruptcy attorney before signing a reaffirmation agreement to be sure you understand the consequences of doing so.
At Bankruptcy Law Group, PC, our attorneys have extensive experience helping clients with reaffirmation agreements and other bankruptcy issues. If you are struggling with debt, we are here to help.
Contact us today online or call us now for help in understanding bankruptcy reaffirmation agreements. For your convenience, we have law offices in Sacramento, Fairfield, and Redding, California, as well as Reno, Nevada.
Chapter 7 Bankruptcy and Reaffirmation Agreements
Signing a reaffirmation agreement is, in effect, giving up your right to debt discharge over a certain property. A Chapter 7 bankruptcy liquidates assets, meaning the bankruptcy trustee seizes ownership of assets not protected under state law, and sells them to pay off creditors. Through this process, the debtor's obligation is relieved. By signing a reaffirmation agreement, you are forfeiting that right, but retaining ownership. Before entering into such an agreement, it is wise to consult with an experienced California bankruptcy lawyer.
The court may not approve the reaffirmation agreement. If the judge feels you will be unlikely to keep up with payments or you are likely to default on the loan for some other reason, the agreement may be denied. Our attorneys are here to answer any questions you may have about reaffirmation agreements, and to help you explore your debt relief options.
Schedule Your Free Consultation & Bully Back
If you are considering filing for bankruptcy and need help understanding bankruptcy reaffirmation agreements, our bankruptcy attorneys are here to help. Contact us today online to schedule a free debt relief consultation with an experienced Nevada or California bankruptcy attorney. We hold regular office hours and are available evenings and weekends by appointment. We also speak Spanish.
