Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Reaffirmation agreements and the law surrounding can be downright confusing. In fact, the law on this topic is so bizarre that it reminds me of the saying, “truth is stranger than fiction.” Some background Prior to continuing to read this post, you need to do a bit…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In parts one, two, and three, I explained secured debt, liability, how the automatic stay comes into play with reaffirmation agreements, and my opinion about whether you should sign a reaffirmation agreement. I left off with dealing with a situation in which you have equity in…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In parts one and two, I explained secured debts, liability, and some history behind the law of reaffirmation agreements. I left off by pointing out that if a debtor fails to sign a reaffirmation agreement, the automatic stay is lifted earlier than normal. What the secured…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In “Bankruptcy Reaffirmation Agreements (Part One)” I explained that reaffirmation only applies to secured debt on personal property. I also explained that it only applies to Chapter 7 cases, not Chapter 13 cases. In this post, I’ll explain what reaffirmation agreements do and whether you…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott If you file a Chapter 7 bankruptcy, you may be faced with having to decide whether to sign a “reaffirmation agreement.” This is the first of a series of posts I’ll do explaining what reaffirmation agreements are, what they do, how they work, along with South…