Chapter 7 prevents repossession for lapsed vehicle insurance, but only briefly. You still have to insure your vehicle again quickly. Our last blog post went through a list of ways Chapter 7 buys you time with your vehicle lender. Included in that list was that it gives you “a very limited time to reinstate required vehicle insurance.” This … Read More
If your vehicle is worth less than you owe on it, with good timing cramdown could reduce your monthly payment AND the total amount you pay.