About Bankruptcy
Your Legal Rights During and After Bankruptcy: Making the Most of Your Bankruptcy Discharge
Do I Have to Reaffirm on the Same Terms?
No. A reaffirmation is a new contract between you and the lender. You should try to get the creditor to agree to better terms such as a lower monthly payment or interest rate. You can also try to negotiate a reduction in the amount you owe. The lender may refuse but it is always worth a try. The lender must give you disclosures on the reaffirmation agreement about the original credit terms, and any new terms you and the lender agree on must also be listed.
Next: Should I Reaffirm?
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