People that are overwhelmed with debt file bankruptcy in order to eliminate as much disposable debt as legally permissible. On occasion it may be desirable for our client to reaffirm a debt in order for that client to keep a particular asset that is currently secured by the debt. For example, a financed automobile may be the only means of transportation the family has in their possession. The family may wish to keep the automobile and may reaffirm or keep the automobile and continue making the monthly payments. In many cases, the bank or lending institution that made the automobile loan will allow the debtor to maintain possession and use of the asset as long as the debtor signs a reaffirmation agreement and makes timely payments in accordance with the reaffirmation agreement.
The decision to execute a reaffirmation agreement is a serious decision that has significant long-term consequences, and it is advisable to speak with a Kansas bankruptcy attorney to obtain the proper legal advice before deciding to reaffirm any particular debt.
You are invited to contact Kansas Bankruptcy attorney Rick Hodge. We have helped many people all over Kansas with their bankruptcies. We will answer your questions and help you file the petition from your own home. You will only need to leave your home to attend the Meeting of Creditors in Wichita 30 days after filing.