Chapter 7 * cases starting at $1000 in attorney fees plus court filing fees of $338
Chapter 13 * cases starting at $750 down which includes the filing fees and then hourly work will be billed
* Please note that all cases require a full consultation before an individual attorney fee quote can be made

Payment Plans Available. Call For A Free 1-Hour Consultation. 

A+ Premier Attorney Rating | The National RegistryA+ Premier Attorney Rating | The National Registry
Awarded | Top 100 Bankruptcy | Blog
A+ Premier Attorney Rating | The National Registry
Photo of Kim Covington

A Personalized, Sensitive
Approach To Bankruptcy

What is a Chapter 7 reaffirmation agreement?

On Behalf of | Jul 10, 2020 | Chapter 7 Bankruptcy

Many young families that are facing financial hardship worry about their future. They might know that bankruptcy is an option that’s available to them, but they often fear that pursuing bankruptcy will leave them with nothing. As a result, these families tend to work themselves into the ground in an attempt to climb out of debt. The sad reality, though, is that many of these families are in too deep of a hole to climb out.

The good news is that bankruptcy doesn’t leave you without resources to get by. In fact, there are a number of exemptions that allow you to keep thousands of dollars worth of assets. Even if that’s not enough, which may be the case if you want to keep a vehicle that still has an outstanding loan balance, you can take additional steps to ensure that you get to keep key assets.

The most effective way to do this is to reaffirm some debt. This requires you to enter into a reaffirmation agreement where you simply agree not to discharge the debt through bankruptcy and instead choose to keep the asset in question while you continue to pay off the loan behind the asset. When entering into one of these agreements you might be able to renegotiate the terms of the loan. Also, it may be easier for you to repay this debt after bankruptcy since you will have freed up funds that were being used to pay off other debts.

The thought of bankruptcy can be scary, but a lot of that fear is attributable to the unknown. Therefore, if you and your loved ones are struggling with overwhelming debt, then you might be relieved once you learn exactly what bankruptcy can do for you. A bankruptcy attorney who is experienced in this area of the law may be able to competently guide you through the process so that you can increase your chances of achieving the outcome you want and deserve.

FindLaw Network

Learn More About Your Fresh Financial Start

The Law Office of Kim Covington, is a woman owned debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 24 years.