If you have found that you are unable to keep up with your car payments, you are not alone. In fact, statistics show that 7 million Americans are one to three months behind on their car payments. So, What Happens When You Can't Pay On Time? Well, this will largely depend on your loan documents [...]
Most of us rely on our vehicles as our main form of transportation to work, school, and other obligations. This is especially true of those of us living in Southern California. For this reason, we receive a lot of questions about if it is possible to keep a vehicle when filing for bankruptcy.
A reaffirmation in bankruptcy is an agreement that you can choose to sign with a creditor that will prevent that debt from being discharged in bankruptcy. Typically, when a person files for bankruptcy under Chapter 7, they are looking to discharge all or most of their debts. However, in some cases, a person may want to retain a debt while filing for Chapter 7.
Occasionally, I receive a call from a client who had a successful discharge of a Chapter 7 bankruptcy. In most cases, the client’s financial situation changed in ways that could have the potential to affect the bankruptcy order. Recently, I a client whose wife had just lost her job called. The loss of the job […]
