If you are not represented by bankruptcy counsel, the Bankruptcy Court must approve the Reaffirmation Agreement before it is a valid, binding agreement. If you wish to reaffirm your debt with GM Financial, a Reaffirmation Agreement must be signed – by you, your attorney and GM Financial – and filed in a timely manner with the Bankruptcy Court. Not all services are available to customers who have been discharged in a bankruptcy case but not reaffirmed their debt with GM Financial. However, by executing a Reaffirmation Agreement with GM Financial, you will resume receiving monthly statements on your account, be able to access your account via our website, make payments via that website and be eligible for deferments on your account, once your case has been discharged. You are not required to sign a Reaffirmation Agreement. To check your payment, you can chat with us in MyAccount or call us at 1-80.Ī Reaffirmation Agreement is an agreement between a creditor and debtor(s) who has filed bankruptcy stating that the debtor(s) will honor the terms of the initial contract initiated with the creditor. There isn’t a limit to the number of extra payments that can be made in a month. Therefore, the final payment may be less than the scheduled payment amount listed on your contract and the account may be paid off sooner.

If monthly payments are consistently made prior to the scheduled due date or more than the amount due is paid, less interest accrues on the unpaid principal.

If you'd like to pay less interest or pay your account off sooner, you can always pay more than reflected.

Or you may pay the reduced amount shown in the billing statement, depending on what your goals are. However, even though your billing statement may reflect that you owe less than the full monthly scheduled payment, you may choose to pay the scheduled payment amount or more than the scheduled amount. Therefore, when you pay more than your monthly payment, depending on your payment history, your billing statement may show that your next payment due is for less than the scheduled amount, or it may show that your next payment is not due until a later future date. We don't currently offer the option to make a principal-only payment (see payment application order above).

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