Chapter 13 Auto Cramdown vs Chapter 7 Redemption • Video
Debtors often have problems with their cars in bankruptcy. First, if you have negative equity if you owe more than the auto is worth. Then, if you have negative equity in your auto you are often able to cram down your car in Chapter 13 to make it more affordable. So, essentially you pay back […]
Chapter 7 Bankruptcy Auto Loan Redemption
If you wish to redeem your auto loan and keep your car in Chapter 7 bankruptcy the requirement is to pay the replacement value for your car. The same holds true for a loan for your truck, boat, or motorcycle. Additionally, mobile homes not attached or affixed to the land are also redeemable. Again, redemption […]
