A reaffirmation agreement is a legal document that allows a debtor to continue to pay off a debt even after filing for bankruptcy. However, there are certain legal requirements that must be met in order for a reaffirmation agreement to be valid.

Firstly, the reaffirmation agreement must be signed by both the debtor and the creditor. This agreement must also be filed with the court and approved by the bankruptcy judge. It is important to note that the debtor has the right to cancel the reaffirmation agreement within 60 days of signing it.

Additionally, the reaffirmation agreement must include certain information such as the amount of the debt being reaffirmed, the interest rate, and the schedule of payments. It must also disclose any fees or charges associated with the debt.

Furthermore, the reaffirmation agreement must not cause the debtor undue hardship. This means that the debtor should be able to afford the payments without causing financial hardship or inability to pay for essential living expenses such as housing, food, and healthcare.

It is also important to note that some types of debts such as student loans, taxes, and child support cannot be included in a reaffirmation agreement.

In summary, the legal requirements of a reaffirmation agreement include the signatures of both the debtor and the creditor, court approval, the inclusion of certain information, no undue hardship to the debtor, and exclusion of certain types of debts. It is important to consult with a bankruptcy attorney to ensure that all legal requirements are met when creating a reaffirmation agreement.