Credit card debt is almost the same as it was 10 years ago, vehicle debt is only modestly higher, but student loan debt is 4 TIMES as much.
Whether you can get your vehicle back depends on how long ago it was repossessed and whether you file under Chapter 7 or Chapter 13.
If you have a relatively new vehicle loan, waiting until you’ve had it for at least two and a half years can save you thousands of dollars
This Thanksgiving, we have much to be thankful for among the basketful of benefits provided by the bankruptcy laws.
You may be much more comfortable with the “straight bankruptcy” process once you read this story about how it goes.
Filing a “straight bankruptcy” Chapter 7 case stops the repo man even if he’s about to grab your car or truck. What happens next?
Bankruptcy can take care of your vehicle debt in many ways. Here are a baker’s dozen–13–of them.
A simple Chapter 7 case protects you from all collections, discharges all your debts, lets you keep or surrender your collateral, and keep all your other assets.
Chapter 7 often protects you from creditors well enough. But if need be, Chapter 13 protects you longer.
Straight Chapter 7 bankruptcy gives very limited help if you’re behind on your vehicle and need to keep it. And Chapter 13? Provides much more help.
Bankruptcy stops a vehicle repo from happening. But what then?
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