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 ?
BAPCPA also increased the cost of reaffirmation by imposing new
The prolonged economic downturn has raised a number of significant issues for consumer debtors in regards to "ride-through" and reaffirmation.
A spokesperson for the GSMA said that the government's policy reaffirmation has created a vibrant outlook in the Pakistani telecomms market, and it is essential that agreed policies, rules and regulations are enforced to see the market fulfill its potential.
In fact, doctors agree that laughter is an important element in our lives--a reaffirmation of our well-being.
On the contrary, the Europe Minister wrote: "A more transparent and accountable structure for the EU, a clear reaffirmation of the principle that national Governments remain in control and a more efficient and effective EU through, among other things, the European Council chair were all British wishes, achieved in the draft treaty.
a reaffirmation of support for improved access to health care services in the home and community;
Another question raised that relates to the reaffirmation of documents currently under revision is, "Why reaffirm a standard if it's going to change?
It is equally important that schools enforce standards of educational excellence at every grade level, In the absence of an unflinching, daily reaffirmation of standards of educational excellence, the structural disadvantages common to many public schools--the poorly paid and underqualified teachers, the crumbling facilities--inevitably begin to encroach on, and then to corrupt, the learning environment.
And no mention is made of revisionist academic readings like Susan Blake's excellent article of 1979 on black folklore in Bison's work, which argues--in opposition to the idealizing readings played up by Butler--that the result of Invisible Man's identity quest is "not self-definition at all but reaffirmation of the identity provided by the white culture.
Its spokesman, Dan Kay, commented, `The city and the media saw it as a repudiation of racism and a positive reaffirmation of the city's commitment to cultural diversity, but the Christians involved believe it is also important as the removal of an obstacle to spiritual blessing and renewal.
The exchange rate has been relatively stable at around 104 yen to 105 yen to the dollar this week since the G-7's reaffirmation of concern about the strong yen at Saturday's meeting in Tokyo.
But when customers sign reaffirmation agreements, they agree to continue paying off their debt in exchange for keeping the credit card or keeping merchandise bought on credit.