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- 722_redemption abstract "722 Redemption is a process within the U.S. bankruptcy code under section 11 U.S.C. 722 that allows a debtor to redeem collateral based on the market value of the collateral. The bankruptcy code allows a debtor to pay the retail value of the collateral in a lump sum payment to the creditor in exchange for the lien on the collateral being released. In order for 722 redemption to apply the item in question must be personal property intended primarily for personal, family or household use. The interest in the property must be exempted under the bankruptcy code or has to be abandoned by the bankruptcy estate in order for 722 redemption to be used. Once a bankruptcy case is filed a debtor must file a motion in court and obtain a court order to redeem the property. This process is most commonly used to redeem vehicles that are worth less than the outstanding loan on the vehicle. The process allows a debtor to pay the current market value of the vehicle versus the outstanding loan on the vehicle.".
- 722_redemption wikiPageID "38053660".
- 722_redemption wikiPageLength "1286".
- 722_redemption wikiPageOutDegree "6".
- 722_redemption wikiPageRevisionID "687913157".
- 722_redemption wikiPageWikiLink Bankruptcy_in_the_United_States.
- 722_redemption wikiPageWikiLink Category:Bankruptcy.
- 722_redemption wikiPageWikiLink Category:Bankruptcy_in_the_United_States.
- 722_redemption wikiPageWikiLink Chapter_11,_Title_11,_United_States_Code.
- 722_redemption wikiPageWikiLink Interest.
- 722_redemption wikiPageWikiLink Loan.
- 722_redemption wikiPageUsesTemplate Template:Orphan.
- 722_redemption wikiPageUsesTemplate Template:Reflist.
- 722_redemption subject Category:Bankruptcy.
- 722_redemption subject Category:Bankruptcy_in_the_United_States.
- 722_redemption hypernym Process.
- 722_redemption type Election.
- 722_redemption comment "722 Redemption is a process within the U.S. bankruptcy code under section 11 U.S.C. 722 that allows a debtor to redeem collateral based on the market value of the collateral. The bankruptcy code allows a debtor to pay the retail value of the collateral in a lump sum payment to the creditor in exchange for the lien on the collateral being released. In order for 722 redemption to apply the item in question must be personal property intended primarily for personal, family or household use.".
- 722_redemption label "722 redemption".
- 722_redemption sameAs Q4643151.
- 722_redemption sameAs m.0pcgg37.
- 722_redemption sameAs Q4643151.
- 722_redemption wasDerivedFrom 722_redemption?oldid=687913157.
- 722_redemption isPrimaryTopicOf 722_redemption.