What does it mean to reaffirm a debt?

To reaffirm a debt means to essentially take it out of your bankruptcy and fully recommit yourself to paying it back. Almost always, this is a bad idea. Creditors often push hard to convince debtors that it’s in their best interest to reaffirm a debt when there is collateral securing the debt, but this is usually not really necessary in practice. There are risks to not reaffirming your debt, but those risks are often worth the benefits of simply retaining the property and making regular timely payments. We will analyze whether you should or should not reaffirm your particular secured obligations.

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