If I sign a reaffirmation agreement, can it be different terms than the original contract?

22 Oct If I sign a reaffirmation agreement, can it be different terms than the original contract?

The simple answer is yes – if you can get the lender/creditor to agree. A reaffirmation agreement is a new contract between you and the lender/creditor. If you must sign a reaffirmation agreement, I would encourage you to negotiate the interest rate, the balance owed, and/or the length of time to pay out the debt.

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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