Reaffirmation, Redemption And Surrender Of Personal Property Vs. “Ride Through” In Chapter 7 Cases – Part I of III

By James F. Molleur, Esq., Molleur Law Office, Biddeford, Maine
(Republished with permission. Originally published at the Thirty-Ninth Annual Southeastern Bankruptcy Law Institute, March 21, 2013, Atlanta, Georgia)

Section 521(a)(2) Statement of Intention

To begin at the beginning, Section 521(a)(2) defines a debtor’s rights and obligations regarding secured debts upon filing a Chapter 7 bankruptcy petition. Section 521(a)(2) reads as follows:

(a) The debtor shall—

(2) if an individual debtor . . .

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Reaffirmation, Redemption And Surrender Of Personal Property Vs. “Ride Through” In Chapter 7 Cases – Part I of III

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