Reaffirmation and negotiation

I have written before about the pros and cons of entering into a reaf

Most people know that Chapter 7 allows you to wipe out unsecured debt – credit card bills, medical debt and other

Most people know that Chapter 7 allows you to wipe out unsecured debt – credit card bills, medical debt and other

If you are purchasing a vehicle and you file Chapter 7, your options are (1) surrender the vehicle, (2) reaffirm the existing loan, or (3) redeem the vehicle by paying the lender fair market value.  Redemption, which is described at Section 722 of the Bankruptcy Code used to be an uncommon choice.  More recently, however, several lenders have entered the market to finance Section 722 redemptions.  In this video, I discuss how redemptions work and how to know if a Motion for Redemption under Section 722 is a good idea.