No. A reaffirmation is a new contract between you and the lender. You should try to get the creditor to agree to better terms such as a lower monthly payment or interest rate. You can also try to negotiate a reduction in the amount you owe. The lender may refuse but it is always worth a try. The lender must give you disclosures on the reaffirmation agreement about the original credit terms, and any new terms you and the lender agree on must also be listed.
Posted in Legal Rights During and After Bankruptcy | Tagged bankruptcy, bankruptcy avoidance, consumer counseling, credit problems, debt, debt problems, debt relief, Espanola, Las Vegas, law, lawyer, Los Alamos, Los Alamos County, New Mexico, Raton, Rio Arriba County, San Miguel County, Santa Fe, Santa Fe County, Taos