Reaffirmation of Your Debt

What is Reaffirmation?

Reaffirmation of your debt is

an agreement in the U.S bankruptcy law that refers to an agreement made between a creditor and the debtor that waves discharge of a debt that otherwise would be discharged in pending bankruptcy.

Is Bankruptcy Good or Bad?

Bankruptcy is bad. Bankruptcy is bad because it can stay on your credit report for 10 years, renters may have a hard time finding new housing, it's harder to find a job, and your insurance premiums may jump.


PROS

  • You no longer have debt