REAFFIRMATION
\ɹˌiːˌafəmˈe͡ɪʃən], \ɹˌiːˌafəmˈeɪʃən], \ɹ_ˌiː__ˌa_f_ə_m_ˈeɪ_ʃ_ə_n]\
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An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.
By Oddity Software