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Worcester Reaffirmation Agreement Lawyers

If you have several loans, you may be concerned about how bankruptcy will affect your ability to continue to borrow money. Fortunately, you can reaffirm those debts. Reaffirmation agreements allow you to continue to make payments on certain debts after you file for bankruptcy.

Reaffirmation agreements are only available for certain debts, including:

  • Mortgages
  • Home equity loans
  • Leases
  • Motor vehicle loans
  • Personal loans
  • Secured credit cards
  • Timeshares

What Is a Reaffirmation Agreement?

Reaffirmation agreements are legally binding contracts that allow you to continue making payments on a debt after you file for bankruptcy. They are only available for certain debts, including those listed above.

In order to reaffirm a debt, you must be current on the payments when you file for bankruptcy. You must also reaffirm all debts that are secured by collateral or are subject to a lease. If you are current on payments for a debt that is unsecured or not subject to a lease, you may still be able to reaffirm that debt.

If you are current on payments for a debt that is secured by collateral or subject to a lease, you must reaffirm that debt. If you are not current on payments for a debt that is secured by collateral or subject to a lease, you may still be able to reaffirm that debt if you can pay the arrears in a single payment.

You will be required to make payments to a creditor at least once a month. The creditor must agree to accept those payments at the same interest rate as before and must allow you to make payments at least once a month.

When you reaffirm a debt, you agree to continue making payments on the debt. You will need to sign a reaffirmation agreement, which is a contract between you and the creditor. The creditor must agree to accept payments at the same interest rate as before and must allow you to make payments at least once a month.

You should consult with an experienced Worcester bankruptcy attorney before reaffirming any debt. An attorney can help you determine which debts you should reaffirm and can help you negotiate a favorable reaffirmation agreement.


To schedule a free initial consultation about reaffirmation agreements in Worcester with an experienced bankruptcy attorney, call (508) 928-3038 or contact us online.

Why Hire Us?

At Morrison & Associates, we are committed to helping you overcome your debt. We have decades of experience handling all types of bankruptcy cases and can help you determine if Chapter 7 or Chapter 13 bankruptcy is right for you. We can also help you negotiate a favorable reaffirmation agreement.

Our team is available to help you at all times and we offer free initial consultations. If you are facing significant debt, we can help you determine if bankruptcy is the right option for you.


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