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 Washington state, reaffirmation during bankruptcy is a legal process where a debtor chooses to keep certain secured debts, such as a mortgage or car loan, and agrees to continue paying them off. By reaffirming a debt, the debtor and the creditor enter into a new contract, which typically retains the original terms of the loan. This agreement must be submitted to and approved by the bankruptcy court. To be eligible for reaffirmation, the debtor must be up-to-date on loan payments and must have sufficient bankruptcy exemptions to cover the equity in the property. It's important to note that reaffirmation is voluntary and not required by bankruptcy law. Debtors should consider the implications carefully, as reaffirmed debts are not discharged in bankruptcy and the debtor remains legally obligated to pay them. Consulting with an attorney is advisable to understand the full legal consequences of reaffirmation in the context of bankruptcy.