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The only possible benefit is that the mortgage company will continue to report your stream of future on-time payments (assuming that you make them) to the credit reporting agencies.
A reaffirmation agreement is an agreement between a chapter 7 debtor and a creditor that the debtor will pay all or a portion of the money owed, even though the debtor has filed bankruptcy. In return, the creditor promises that, as long as payments are made, the creditor will not repossess or take back its collateral.
You or your creditor must file with the court the original of this Reaffirmation Documents packet and a completed Reaffirmation Agreement Cover Sheet (Official Bankruptcy Form 27).
Remember the following factors of reaffirmation: The agreement is voluntary for you and for the creditorthe creditor may refuse to offer a reaffirmation.
If you want to request a reaffirmation agreement, you must agree after filing for bankruptcy but before any collateral is discharged to the lender. An agreement is filed by submitting a Statement of Intent to the court. Then, you must also send the Statement of Intent to the lender.
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A reaffirmation agreement must be entered into before the grant- ing of a discharge and filed with the clerk of the bankruptcy court for it to be valid and binding. An executed reaffirmation agree- ment may be filed by any party, including the debtor or a creditor.
Remember the following factors of reaffirmation: The agreement is voluntary for you and for the creditorthe creditor may refuse to offer a reaffirmation.
The signed agreement must be filed with the court no later than 60 days after the first date set for the meeting of creditors, so that the court will have time to schedule a hearing to approve the agreement if approval is required.
A reaffirmed debt remains your personal legal obligation to pay. Your reaffirmed debt is not discharged in your bankruptcy case. That means that if you default on your reaffirmed debt after your bankruptcy case is over, your creditor may be able to take your property or your wages.
Without a reaffirmation agreement, you are not personally liable for the debt. So, while the mortgage company can still foreclose on their lien if you dont pay, you are free to walk away with no penalty or further damage to your credit. The bankruptcy has removed your personal liability.

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