Reaffirmation

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Reaffirmation

An agreement in which a borrower agrees to continue to be obliged to repay a debt, even if it otherwise would be discharged in bankruptcy. The reaffirmation must be signed before the debt is discharged. It is often used if a debtor wishes to maintain ownership of an asset, such as a car, that secures the reaffirmed debt.
References in periodicals archive ?
Supreme Court decision reaffirming Federal Communications Commission (FCC) authority to establish rates for incumbent carrier provision of unbundled network elements (UNEs) to competitive carriers.
We are reaffirming the increased guidance we gave on April 12 -- Concord is anticipating Q2 revenue of $25-$26M and EPS of $0.
Frechette continued: "We are reaffirming the earnings guidance of $0.
The Office of the Secretary of Defense released a memo last week reaffirming its commitment to go forward with TRW's Defense Travel System (DTS) and deploy it throughout the department and across the services and agencies.
Environmental Protection Agency (EPA) and the Department of Justice (DOJ) reaffirming the government's intention to enforce the terms of the consent decrees Cummins and four other U.
I am extremely excited to take this opportunity to get acquainted with our shareholders and to reaffirming our commitment to increasing shareholder value.