Legal News for Credit Union Managers Since 1990

Archive for February, 2018

02
Feb
2018

No Reaffirmation: Debtor Keeps Collateral

A Chapter 7 debtor, who was not in default under the obligations of a consumer loan agreement, was not limited to redemption, reaffirmation, or surrender of the collateral. Here, the the court held that a Chapter 7 debtor could keep his vehicle pledged as collateral to the creditor, even though the debt was not reaffirmed, redeemed […]

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