Chapter 7 Bankruptcy - How To Think About Auto Loans

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In the past few years the credit landscape has changed dramatically, and auto lending is no exception. Prior to the credit crisis that began in 2007, many consumers emerging from bankruptcy were able to obtain financing for another vehicle. The current credit climate makes it much more difficult to get credit approval for an auto loan post-bankruptcy. Therefore, decisions made in bankruptcy regarding auto debt have become increasingly important.

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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.

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