Overview Articles
Overview Articles
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Your Car in Chapter 13 Bankruptcy
You won’t lose your car in Chapter 13 bankruptcy. Filers making vehicle payments can reduce the loan interest and pay off the car loan through a repayment plan. Filers can even catch up on late payments and, in some cases, pay less by reducing the principal balance to the vehicle’s value using a “cramdown” procedure.
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How to File Bankruptcy and Keep Your Car
No one wants to lose a car in bankruptcy. Keeping your vehicle in bankruptcy will depend on the following: whether you file for Chapter 7 or Chapter 13 bankruptcy, if you’re behind on your car payment, and whether you can protect all of the vehicle equity with a bankruptcy exemption.
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Keeping Two Cars in Chapter 13 Bankruptcy
Whether you can keep two cars in a Chapter 13 bankruptcy depends on a number of factors.
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How to Value Your Car in Bankruptcy
Valuing your car, van, truck, motorcycle or other vehicle is an important part of a bankruptcy case; when you file for bankruptcy, you must include a list of everything you own and how much each item is worth.
Car Repossessions and Chapter 13
Car Repossessions and Chapter 13
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Will Filing For Bankruptcy Get Back a Repossessed Vehicle?
Repossession of a vehicle is a stressful situation for anyone to have to face. If you’ve had your vehicle repossessed because you haven’t kept up with the payments, you may be wondering if you can get your car back by filing for bankruptcy.
Car Leases in Chapter 13
Car Leases in Chapter 13
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What Happens to a Car Lease in Chapter 13 Bankruptcy?
What happens to your car lease in Chapter 13 bankruptcy depends on whether you are behind on your payments and on what the bankruptcy trustee decides to do with the lease – the trustee can assume or reject the car lease.