Yes, the creditor must sign the reaffirmation agreement as well as the debtor and the debtor's attorney.

Reaffirmation agreements are only used for secured debts such as your home mortgage or your vehicle loan.The creditor and debtor reaffirm the terms of the loan (such as the payment amount and the interest rate) within the context of the bankruptcy.

The usual course of events is that the creditor sends the bankruptcy attorney the proposed reaffirmation agreement. Many times the creditor has already signed the agreement when they mail it to the attorney. The attorney will then review the terms of the agreement to make sure it is in your best interest to reaffirm the loan. If you really cannot afford to keep paying on a vehicle, for instance, your attorney will talk that over with you. You must also show on the reaffirmation agreement that you have room in your budget to afford the proposed payment.

If after considering everything you decide you want to reaffirm a loan, then you as the debtor must also sign the agreement as well as your attorney. If the creditor has signed too, then the document is filed with the court and it becomes a binding document.

If in the future you default on the reaffirmed loan, the creditor has the right to proceed with foreclosure or repossession and to pursue you for any deficiency balance after they sell the collateral.