What Is Reaffirmation?
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Reaffirmation is an agreement signaling to a secured lender that you intend to continue abiding by the terms of your original contract despite your bankruptcy filing. If you remain current, these accounts are reported positively on your credit report — making them valuable tools for credit rehabilitation.
Florida Considerations
In Florida, given the unlimited homestead exemption, the decision to reaffirm your mortgage requires careful analysis. We evaluate your specific situation, income, and long-term goals before recommending whether reaffirmation serves your best interests.
When Reaffirmation May Not Be the Right Choice
If you are uncertain about your future income, or if you were a co-signer, alternatives include voluntary surrender, loss mitigation, or a court-approved sale. Every situation is analyzed individually.
Frequently Asked Questions
Should I reaffirm my mortgage in a Florida bankruptcy?
In most cases, no. Florida law generally allows you to keep your home by continuing payments without reaffirming — especially given the unlimited homestead exemption. Reaffirming means the debt survives discharge and you remain personally liable. We analyze your specific lender and loan terms before making any recommendation.
What happens to my car loan in a Florida Chapter 7?
You have three options: reaffirm (keep the car and remain liable), redeem (pay current market value in a lump sum), or surrender (return the car and owe nothing). Some lenders also allow ride-through — continuing payments without reaffirming. We evaluate each option based on your specific loan and lender.
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