Fort Scott Lawyer
All lawyers of Fort Scott, KS or refine by the following practice areas
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Legal Term Highlighted
redemption: In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.
