Canton Bankruptcy Lawyer
A reaffirmation agreement is a contract between a debtor and a creditor in which the debtor agrees to repay all or a portion of the debt. The main purpose of a reaffirmation, from a debtor’s perspective, is to keep secured property and protect it from repossession.
Reaffirmation agreements are commonly used by individuals in a Chapter 7 bankruptcy who wish to keep a car, truck, motorcycle, boat or other important secured property. If you are contemplating bankruptcy, it is critical that you understand how reaffirmation agreements work. There are important factors that you must consider to ensure the protection of your rights:
- You may be able to negotiate better contract terms with a reaffirmation agreement.
- Your reaffirmation agreement must be approved by a bankruptcy court.
- The timing of the agreement and its submission to the court must adhere to strict legal requirements set out in the U.S. Bankruptcy Code.
I am bankruptcy attorney Charles Covey. I have been helping clients find solutions to difficult debt challenges for more than 30 years. I have represented thousands of clients in bankruptcy cases. For the last 20 years, I have devoted my practice exclusively to bankruptcy and debt relief matters.
If you are struggling with debt and want to learn more about bankruptcy, I am pleased to meet with you personally to answer your questions. I am pleased to help you determine if you are eligible for bankruptcy, if bankruptcy is right for you and what type of bankruptcy is best to provide the relief you need.
Contact a Peoria Reaffirmation Agreement Attorney
My law office is located in Peoria, Illinois. Call 309-674-8125 to schedule your free consultation. You may also contact me by e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
