Loan Redemption Program Lets You Keep Your Car After Bankruptcy and Save Money


In most cases, when you file for bankruptcy, you have very few options when it comes to your vehicle. Normally, you can keep your existing car loan and make the high monthly payments until the loan is paid in full. Or you can give your vehicle to the lender, which leaves you with no way to get around. Is either of these choices what you really want? Here's an unusual, money-saving approach:

Rich Fonfrias' Car Redemption Program

We start with three people -- you, your lender and me. With the three of us working together, we agree that you will pay to the lender your car's fair market value. This is usually less than you actually owe. And you benefit in three ways...

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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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