"Texas Reaffirmations Agreement"

In Chapter 7 cases, Texas reaffirmations allow debtors to retain property secured by a valid lien, even if the underlying debt is past due. Texas reaffirmation agreements must be authorized by the creditor and be approved by the court. The effect of a reaffirmation agreement is to remove the debt, lien and property from the Chapter 7 proceeding.

In Texas, legal definitions are derived from many sources, both federal and state: case law, statutes, rules of procedure, rules of evidence, and local practices. The application of law determines meaning, rather than common usage in ordinary conversations. For instance, a particular phrase used in a significant court decision may become popular, and is understood to include the rationale and requirements contained in the published opinion. For this reason, any debtor who may have questions about legal terminology should contact a qualified attorney for clarification. Most consumer specialists offer free consultations for anyone who is considering filing Chapter 7 or Chapter 13.

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