Reaffirmation Agreement A Wisconsin Reaffirmation Agreement is a legally binding document that allows a debtor in bankruptcy to keep certain assets, such as a car or home, while still discharging their debts through bankruptcy. This agreement allows the debtor to reaffirm the debt, meaning they agree to continue making payments on the loan even after the bankruptcy is complete. It is used to protect the interests of both the debtor and the lender, as it gives the debtor the chance to keep their assets while still providing the lender with some assurance of repayment. There are two main types of Wisconsin Reaffirmation Agreement: voluntary and involuntary. A voluntary agreement is made between the debtor and lender before the bankruptcy is approved, while an involuntary agreement is imposed by the bankruptcy court after the bankruptcy is approved.
A Wisconsin Reaffirmation Agreement is a legally binding document that allows a debtor in bankruptcy to keep certain assets, such as a car or home, while still discharging their debts through bankruptcy. This agreement allows the debtor to reaffirm the debt, meaning they agree to continue making payments on the loan even after the bankruptcy is complete. It is used to protect the interests of both the debtor and the lender, as it gives the debtor the chance to keep their assets while still providing the lender with some assurance of repayment. There are two main types of Wisconsin Reaffirmation Agreement: voluntary and involuntary. A voluntary agreement is made between the debtor and lender before the bankruptcy is approved, while an involuntary agreement is imposed by the bankruptcy court after the bankruptcy is approved.
