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Reaffirmation Agreements

Reaffirmation Agreement Lawyers in Los Angeles

Understanding Debt Reaffirmation in Los Angeles

If you are behind on car or mortgage payments, which are classified as secured debt, and you want to keep the property after filing a Chapter 7 bankruptcy, you may be thinking about a reaffirmation agreement. By reaffirming the debt you owe, you are able to keep your vehicle or personal property recently purchased, provided you are able to make the payments.

However, reaffirmation agreements can be complex. To get all the information you need to make a sound decision, speak to the attorneys at RHM LAW LLP. Our firm has helped thousands of individuals throughout Southern California achieve debt solutions that work for them.

Call our Los Angeles reaffirmation agreement attorneys at (213) 344-0043 to discuss your situation during a 30-minute complimentary consultation.

Navigating Reaffirmation Agreements: What You Need to Know

Since home mortgages and car loans are considered secured debt, if you have defaulted on your payments, the lender can take the property from you. With a vehicle, it is referred to as repossession. With a home, it is a foreclosure action.

By reaffirming the debt, you are essentially promising the lender that the debt will not be discharged in bankruptcy. It involves entering into a new contract with the creditor for the remaining amount due.

Deciding to Reaffirm Your Debt: Pros and Cons

If you wish to keep your house or vehicle, you may need to sign a reaffirmation agreement. However, it is important that you understand that entering into that contract will make you personally liable for that debt, despite your bankruptcy relief. Therefore, it is critical that you can afford the payments established in the new creditor payment plan.

Expert Legal Advice for High-Stakes Financial Decisions

Reaffirmation agreements only apply if you file a Chapter 7 bankruptcy, not a Chapter 13 bankruptcy. To determine if you are eligible for Chapter 7 bankruptcy, you must pass the means test. Our reaffirmation agreement lawyers in Los Angeles will meet with you in a 30-minute complimentary consultation to answer all your bankruptcy questions. We maintain offices in Los Angeles or Encino and serve clients in San Fernando Valley and throughout Los Angeles, Riverside, San Bernardino, and Orange Counties.

Ready for Financial Recovery? Contact Our Firm Today to take the first step toward financial recovery. 

Client Reviews

What Clients Say About Working With Us
    "They were thorough, extremely knowledgeable, wonderful to deal with, thoughtful, and really helped guide me through what was one of the toughest times in my life."
    Matt and his team are the best!!  They were thorough, extremely knowledgeable, wonderful to deal with, thoughtful, and really helped guide me through what was one of the toughest times in my life. I never felt judged or looked down on. They were efficient and really were lifesavers during this tough time. I can not recommend them highly enough!!!!
    - Rusty H.
    "These are top-notch pros that'll have your back. I cannot recommend them highly enough."
    Where to begin? I had a vile evil credit union repo my car over a misunderstanding, they wouldn't work with me even when I offered full payment plus repo fees (this was my first repo!) so I didn't know what to do. I met with a few lawyers but when I met with Simon he broke things down and gave me my options. I needed a car - so I filed BK and included the car to get it back. The evil credit union fought and Simon GOT ME MY CAR BACK!!! His team is amazing!!!! Maria Donna etc!!! These are top-notch pros that'll have your back. I cannot recommend them highly enough. Sincerely they saved my life. LA with no car!? ARGH!!!!!! *THANX ALL!!!!
    - Tim C.
    "He made me feel like I had options, all was not lost, and I could rebuild my credit."
    Matt is the best bankruptcy attorney in Sherman Oaks. I consulted with Matt over a chapter 7 bankruptcy. I had issues with overwhelming credit card debt after Chase increased it's APR for no reason. It set off a chain of events that were really hurting me. He made me feel like I had options, all was not lost, and I could rebuild my credit after the 7. I had some concerns about a piece of property I was having issues with and Matt also turned out to be a real estate lawyer as well! I recommend this office to anyone who is unsure of their financial situation. It doesn't hurt to find out your options.
    - Max B.
    "Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding."

    Thank you for your great work on behalf of Ms. Johnson. Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.

    - Skip K.
    "We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service."

    Dear Mr. Resnik: We wanted to thank you for your professional handling of our loan modification with GMAC mortgage. We are very happy that you were able to accomplish the modification of our loan in such a short period of time. Thank you again for your professional service.

    - W and B Mejia
    "As the dank blanket of economic uncertainty continues to depress the hopes of many of us, I keep your business cards and number available for others."
    This is to thank you for the exceptional work of you and your fine staff. In managing my bankruptcy and loan modification, a nearly five-year effort, your performance was stellar. I never felt alone or adrift, key concerns in those circumstances. The outcome was outstanding. As the dank blanket of economic uncertainty continues to depress the hopes of many of us, I keep your business cards and number available for others. Without hyperbole, I can attest that you are present a beacon. Thank you so much.
    - K.C.
    "I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate."
    I filed bankruptcy with this firm 3 years ago and found that they are professional, friendly, and compassionate. I also met with their loan modification department. Unfortunately, they were unable to help because of the type of loan that I have. I really appreciated that they did not lie, waste my time, or take my money in an attempt to modify a loan that was not doable. I've since used their firm for a couple of minor issues and found all of the attorneys to be knowledgeable and considerate. Attorneys Simon and Resnik are amazing!
    - Shannon J.
    "He not only saved my house but also got rid of all my debt. They are not your typical attorneys and their creativity really allowed me to do things that other attorneys never mentioned in previous consults."
    Fantastic office! I want to thank Matt for taking his time with me and sincere in his assistance. He spent over an hour with me for free during our initial consult. I left knowing exactly what's needed. He not only saved my house but also got rid of all my debt. They are not your typical attorneys and their creativity really allowed me to do things that other attorneys never mentioned in previous consults. Affordable and Outstanding firm and thank you for all you have done! My family thanks you!
    - David K.
    "I cannot thank them enough for helping save my home. I would recommend them for anyone that is thinking about filing for bankruptcy or foreclosure on their home."
    I needed a bankruptcy attorney in Sherman Oaks and found Matt Resnik on Google. He has one of the best-reviewed bankruptcy law firms on Yelp so I decided to check it out his law firm for myself. I quickly found out that they are foreclosure specialists and they could help me with my issue. They made the process very easy for me and laid out my options for me. I cannot thank them enough for helping save my home. I would recommend them for anyone that is thinking about filing for bankruptcy or foreclosure on their home. They are the best bankruptcy law firm in Sherman Oaks.
    - Joseph R.

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