For example, to keep a car the debtor may choose to redeem the debt (pay the
secured creditor the value of the collateral in exchange for a
release by the creditor of their
lien) or reaffirm the debt (sign a reaffirmation agreement and continue to make car payments).
(5) Fees and charges prescribed by law which are or will be paid to public officials or agencies for recording or
releasing a
lien on property which
secured the loan, provided, however, that a
releasing fee may only be charged and collected at or after the time the
lien is
released.