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Redemption

Under certain circumstances, Chapter 7 debtors are permitted to recover property subject to a valid lien they might otherwise lose to a secured creditor who can enforce the lien because the lien is not affected by the discharge. The ability to recover the property is referred to as redemption. The conditions under which a debtor may redeem property are set out in BRA s722 and BR 6008. Where redemption is not available, the debtor may be able to avoid the lien or enter into a reaffirmation agreement.