Bankruptcy law generally allows you to break your contracts with creditors to help you get out of debt. But sometimes you may want to keep a home mortgage or car loan as you work to recover from your bankruptcy. Reaffirmation is a process in bankruptcy where you agree to remain responsible for the debt or loan so that you can keep the property (house or car) that is securing your repayment of the loan.

In reaffirmation, you and the creditor enter into a new contract—usually on the same terms—and submit it to the bankruptcy court for approval. You will have to be current on your payments of the loan, and you must be eligible for a bankruptcy exemption that will allow you to protect all of the equity in the property securing the loan you want to reaffirm.

In Kansas, reaffirmation during bankruptcy is a legal process where a debtor chooses to keep certain secured debts, such as a home mortgage or car loan, and continues to be responsible for repaying those debts despite the bankruptcy. To reaffirm a debt, the debtor and the creditor must agree to a new contract, which typically retains the same terms as the original agreement. This new contract must then be submitted to the bankruptcy court for approval. The debtor must be current on the loan payments and must have sufficient bankruptcy exemptions to cover the equity in the property they wish to keep. Reaffirmation allows the debtor to retain possession of valuable assets while undergoing bankruptcy proceedings, but it also means that the debtor will not be discharged from the reaffirmed debt and will remain legally obligated to pay it.