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#1
11-01-2003, 12:19 PM
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722 redemptionWhat is the name of your state? massachusetts Can someone explain what a 722 redemption is? |
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#2
11-01-2003, 01:02 PM
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| it's basically were you're are buying the secured interest in the collateral from the creditor with cash. |
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#3
11-01-2003, 01:26 PM
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| US Bankruptcy Code (11 USC 722): "Sec. 722. - Redemption An individual debtor may, whether or not the debtor has waived the right to redeem under this section, redeem tangible personal property intended primarily for personal, family, or household use, from a lien securing a dischargeable consumer debt, if such property is exempted under section 522 of this title or has been abandoned under section 554 of this title, by paying the holder of such lien the amount of the allowed secured claim of such holder that is secured by such lien"
__________________ There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution). Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport! |
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#4
11-03-2003, 08:59 AM
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| So, are you all saying this is a good idea? |
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#5
11-03-2003, 09:31 AM
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| If you're equity is higher than the exemption and the Trustee is making noises about siezing and selling the property, then redemption is about you're only way to avoid losing the property.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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