A Reaffirmation Agreement is a document signed by two parties, the lender and the debtor, to outline the repayment of the debt that will remain the liability of the debtor despite the ongoing bankruptcy process. Even if the borrower filed documentation for bankruptcy and cannot pay back all their debts, it is allowed to sign an agreement with the party they owe money to in order to keep their possessions - for instance, the debtor might want to keep their apartment or vehicle and they are able to do so via a repayment agreement. If your income and expenses allow you to make the payments on the reaffirmed debt, consider proposing a Reaffirmation Agreement form to your creditor who might want to secure money instead of the property - this way, you can keep the assets that have significance for your life while also dealing with one of the debts and creditors even in the light of the upcoming insolvency.
The United States Bankruptcy Court provides a universal form of Reaffirmation Contract: Form B2400A/B ALT, Reaffirmation Agreement, released on December 1, 2015, that can be accessed through the link below.
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