Bankruptcy Terms Explained in Plain English
Reaffirmation Agreement
Plain-English Definition
An agreement to remain personally responsible for a debt that would otherwise be eligible for discharge.
Why it matters
Reaffirmation can preserve liability after bankruptcy. It is not simply another name for making monthly payments. Whether it is appropriate requires review of the loan, budget, risks, and applicable requirements with your attorney.
A simple example
Before signing documents about a vehicle loan, a client asks whether the agreement would leave them liable if they later cannot pay.
Illustrative only; not a prediction of any case outcome.
See how this applies to you
Source reference: U.S. Courts Bankruptcy Basics Glossary. This page provides a plain-English explanation, not a quotation of the glossary.
Need advice about your actual situation?
A definition cannot replace a review of your finances, property, debts, and goals. Stewart Law serves bankruptcy clients throughout Florida.
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