Repossessions: 8.5.4 Redemption in Practice
Consumers frequently redeem household goods, such as appliances, and motor vehicles secured by purchase-money security interests.231 Except when the creditor agrees to installment payments, section 722 is usually used by low-income debtors to redeem items of low value, as the total value of the item must be paid in cash. The cash involved must either be exempt property or cash that is not property of the estate.232