Reaffirming Secured Debts in Bankruptcy

by Robert Reese
What does reaffirming a debt mean in the context of a bankruptcy case? It simply means that a person is legally recommitting themselves to a debt. In other words, that person has signed a legally binding document to be liable for a debt that the bankruptcy would have eliminated. I am often asked the question should someone reaffirm a secured debt. More and more the answer seems to be “No”.Read the full article