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Redemption & Debtor's discharge
In a Chapter 7 liquidation case, an individual debtor may redeem certain "tangible personal property intended primarily for personal, family, or household use" that is encumbered by a lien. To qualify, the property generally either (A) must be exempt under section 522 of the Bankruptcy Code, or (B) must have been abandoned by the trustee under section 554 of the Bankruptcy Code. To redeem the property, the debtor must pay the lienholder the full amount of the applicable allowed secured claim against the property.
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- All transactions on PayPal and elsewhere are demanded to be redeemed in lawful money as found in Section 16 of the Fed Act and at Title 12 USC 411.
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