Simply put, a reaffirmation agreement is a new contract between you and a creditor whereby you confirm your liability to pay the debt. In bankruptcy, reaffirmation agreements are typically used to reaffirm a secured debt, such as a home or car loan. You should discuss with your attorney whether or not you should enter into a reaffirmation agreement with a creditor. Often, you can keep secured property without a reaffirmation agreement, as long as you make the payments on time.

‍