Question

By signing a reaffirmation agreement on April 15, year 4, a debtor agreed to pay certain debts that would be discharged in bankruptcy. On June 20, year 4, the debtor's attorney filed the reaffirmation agreement and an affidavit with the court indicating that the debtor understood the consequences of the reaffirmation agreement. The debtor obtained a discharge on August 25. The reaffirmation agreement would be enforceable only if it was:

Answer 1

Answer: Not rescinded before charge.

Explanation:

A reaffirmation agreement reffeers to an agreement bewteen a creditor and a debtor to renounce to a debt that would otherwise be discharged in the pending bankruptcy proceeding. The debtor must promise to pay that debt into the reaffirmation with the creditor. Reaffirmations are voluntary and not required by law.