Reaffirmation Agreement vs. Chapter 13
When is it better to reaffirm a secured debt (such as a vehicle loan) in a Chapter 7 case vs. handling it instead in a Chapter 13 case?
The Reaffirmation Hearing
You don't need to go to a reaffirmation hearing, unless you don't have a lawyer, or he or she does not sign the reaffirmation agreement.
A Debt Reaffirmed under Chapter 7
You can usually keep collateral you need to keep by entering into a "reaffirmation agreement" with the creditor during your Chapter 7 case.
Secured Debt Treated Like Unsecured Debt after Collateral Surrender
A secured debt effectively turns into an unsecured debt if you surrender the collateral, which may make sense to do more than you think.