Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Reaffirming a loan in bankruptcy? - I was reading over a personal loan that I have, it is a secured loan using my car as collateral. It reads in the fine print somewhere that one of the ways that the loan is in default is if I file for bankruptcy. Now, I am not late on this loan and I want to reaffirm the loan. I don't think they really want my car, which is only worth $3,000 blue book value.