Consumer Bankruptcy Law and Practice: 8.3.7.1 Redemption
Another important right that the debtor may exercise against secured creditors in a chapter 7 case is the right to redeem certain personal property by paying the lienholder the value of the property.92 As with lien avoidance, it is probably easiest to attempt a stipulated settlement regarding redemption prior to filing for judicial enforcement. Of course, such a settlement must involve the lienholder’s agreement on the value of the property.