You Can Keep Your Car In Chapter 13 Bankrutpcy: Even If You Are Behind In Payments


Bankruptcy - Mailbox Full of BillsAre past due car payments keeping you up at night?  People considering bankruptcy are often behind on car payments by two to three months.  In a Chapter 13 bankruptcy, you can keep your car even if the lender threatens repossession.  In some instances, a Chapter 13 bankruptcy can require the lender to return a recently repossessed car to the debtor.  Keeping the car is possible because a Chapter 13 allows you to pay off the loan (and any past due payments) through your bankruptcy plan.  In some cases, a Chapter 13 can reduce the amount owing on the car to its “fair market value.”   In addition, the interest rate may be significantly reduced.

If you would like to know more about your bankruptcy options, please contact me for a free consultation to discuss your financial situation.

Attorney Profile: Janet Spears, Bankruptcy Lawyer – Chapter 13


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Rowley Chapman & Barney, Ltd. | Attorney Advertising

Written by:


Rowley Chapman & Barney, Ltd. on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.