Reaffirming Debt in Chapter 13 Bankruptcy

While you can reaffirm debt with either a Chapter 7 bankruptcy filing or a Chapter 13 bankruptcy filing, it is most common with Chapter 13. Reaffirming debt signals that you intend to keep making payments and retain the asset, most often a home or an automobile.

Reaffirming debt when filing for bankruptcy is a serious matter, and one that should be discussed with a qualified bankruptcy attorney in Phoenix, Arizona. The bankruptcy court will require proof that continuing payments are feasible, and the total payments will be considered along with all of the details of your Chapter 13 bankruptcy filing. The reaffirmed debt itself, however, is not part of the bankruptcy filing and is not included in the bankruptcy discharge.

Reaffirmed debts are not protected from collection or repossession if future payments are missed, which is why an experienced bankruptcy lawyer should be consulted.