Eli agrees to pay a debt to Financial Credit, Inc., which is otherwise dis?chargeable in bankruptcy. This is

Name: Eli agrees to pay a debt to Financial Credit, Inc., which is otherwise dis?chargeable in bankruptcy. This is
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Question

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The act of Eli agreeing to pay a debt to Financial Credit, Inc. that would otherwise be dischargeable in bankruptcy is referred to as reaffirmation. This means that Eli agrees to continue paying the debt even after it could potentially be wiped out in bankruptcy proceedings.

Eli Agrees to Pay a Debt to Financial Credit, Inc