Who determines the redemption value? Everywhere that lists used car values computes a different trade in value (Kelly Blue Book, Edmunds, NADA). Do the courts determine what is fair, or does the ch 7 filer/attorney duke it out w/ the lender?
-
Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision. -
Good question, I would like to know also. -
Redemption value is usuall FAIR MARKET VALUE of item or property....
MinnyMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.Comment
-
It's basically a negotiation, but the baseline value is the fair market value, but what constitutes fair market value depends on the market.Comment
Comment