Can I keep certain secured property such as my car?

If you would like to keep certain property, such as a car, you may “reaffirm” your debt.  A reaffirmation is an agreement between you and the creditor that you are liable and will pay all or a portion of the money owed, even though the debt would otherwise be discharged in the case.  In return, the creditor promises not to repossess or take back the car or other property as long as you continue to make payments.  Reaffirmation of a debt must be done before the discharge is entered in the case.  The reaffirmation agreement must be signed and filed with the court and the judge will decide if the reaffirmation agreement is approved.  The court must find that the reaffirmation does not impose undue hardship on you or your dependents and that it is in your best interest.  Reaffirmation agreements are voluntary.  If you agree to reaffirm a debt and fail to make the payment required, the creditor can take action against you to recover any property and you may remain personally liable for any remaining debt that you have reaffirmed.

Click here for a sample Reaffirmation Documents