In
re Pendlebury (Bankr. ED Pa. 1988)
Bankruptcy Law
Facts:
Mobile homeowners want an order striking a provision in a proposed
reaffirmation agreement with Leader Federal. Makes them responsible
for payment of $250 in attorney fees. Trustee has abandonded the
mobile homes as a burdensome asset of the estate. The attorney for
the debtor may determine that the fees are not fair and reasonsable
and will impose an undue hardship on the debtor or a dependent and
cannot in good faith execute the declaration or affidavit required by
§524(c)(3).
Issue:
Can the debtor object to a reaffirmation agreement?
Holding:
No!
Analysis:
Debtor can achieve Redemption by 1) agreeing that the debtor may
redeem by installments and the parties comply with the reaffirmation
provisions of §524(c) (reaffirmation) or 2) by the debtor’s filing
of a petition under Chapter 13
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