Warning: Zend OPcache API is restricted by "restrict_api" configuration directive in /srv/users/serverpilot/apps/lawslookup/public/wp-content/plugins/tubepress/vendor/tedivm/stash/src/Stash/Driver/FileSystem.php on line 253
Warning: Zend OPcache API is restricted by "restrict_api" configuration directive in /srv/users/serverpilot/apps/lawslookup/public/wp-content/plugins/tubepress/vendor/tedivm/stash/src/Stash/Driver/FileSystem.php on line 253
car bankruptcy consumer bankruptcy
Can I keep my car if I file bankruptcy?
Under Chapter 13, debtors must repay the entire car loan if they bought a car within 910 days (two and half years) of the bankruptcy filing. For example, if you had an outstanding balance of $5000 on a car loan whose blue book value was only $3000, you would be required to pay the entire $5000 balance (assuming you want to keep the car) if the car was purchased less than 30 months of filing. In short, debtors who want to keep their cars must pay the full loan amount, rather than “strip down” the debt to just the value of the car.
Cars are also harder to redeem in Chapter 7 cases, since the law now requires paying the lender the retail replacement value of the car. That value is generally higher than the private sale value that was commonly used under prior law. It remains possible for a debtor to surrender a car when keeping up the payments will be impossible.
(Reviewed 11.14.08)
Read more for related video clips.
https://www.lawslookup.com/youtubes-terms-of-service/
- Can a couple become legally married by living together as man and wife under georgia’s laws?
- Is sampling illegal?
- My husband and I have decided to use artificial insemination to have a child. The donor will not be obligated to support the child. Is there some type of documentation so that this type of arrangement can be made permanent?
- QMSCO
- basis
- extended warranty contracts
- What is asbestos? What are some of the diseases or disorders that are related to asbestos exposure?
- Drug Warnings: Prempro Side Effects and Risks
- justice system
- Ar Common Law Marriage – Can a couple become legally married by living together as man and wife under arkansas’ laws?