Sixth Circuit Court of Appeals Finds No Breach of Contract or FCRA Violation in Connection with Late Payments Under a Reaffirmation Agreement
Foster Swift
JULY 16, 2019
In bankruptcy, a debtor must relinquish assets to satisfy debts. But there are exceptions to this general rule. Certain assets may be exempted from a debtor’s bankruptcy under federal and state law. Other assets, which are subject to a contractual loan agreement and the security interest of a lender, may be “reaffirmed” by a debtor pursuant to a reaffirmation agreement.
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