When you file for Chapter bankruptcy in Atlanta, you have a lot of decisions regarding your debt. You have the right to walk away from any dischargeable debt you choose, assuming it is a debt that can be eliminated in a Chapter 7. But in many cases, you also have the option to reaffirm debt on items that you wish to keep. In Atlanta bankruptcy law reaffirming a debt means agreeing to pay the debt in full and keep the item on which you owe, when you could have otherwise discharged the debt through bankruptcy. The reaffirmation of debt in Atlanta can be a difficult decision.
You can reaffirm debt in Atlanta on nearly any item in a Chapter 7, including your home, car or other important items. You would want to reaffirm debt on an item if:
- It is an item you really want to keep.
- You are current on your payments for the item.
- You can truly afford to keep up with the monthly payments on the item after the bankruptcy.
The reaffirmation of debt in Atlanta is a big decision. The whole purpose of Chapter 7 is to discharge debt and give you a fresh start financially, so walking away from the Chapter 7 bankruptcy process with remaining debt is a decision that should not be taken lightly.