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Redeeming Property Under Section 722 of Bankruptcy Code

Atlanta bankruptcy lawyer Jonathan Ginsberg explains why redeeming property under Section 722 of the Bankruptcy Code may be a good idea in your Chapter 7 case.

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2 Responses to "Redeeming Property Under Section 722 of Bankruptcy Code"

  1. atlantabankruptcy1 says:
    @YoCortez73 – you could consider redemption as described in the video. That might make sense´╗┐ if you can significantly reduce your monthly payment.
  2. YoCortez73 says:
    We just filed ch 7 and received reaffirmation paperwork´╗┐ for furniture purchased in 2007. I want to settle outside of the courts, but the creditor won’t. They’ve agreed to accept a lesser amount, but we have to file a motion. We owed $428 prior to the bk. Current balance is $537. The reaffirmation is for $500. We would have to pay attorney fees, court filing fees, notify all of our creditors, appear in court for a hearing… all time and money consuming. Do we have any other options?

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