WebFeb 4, 2024 · The bankruptcy trustee would require that the extra $200 be paid into your bankruptcy plan. The result is the same if you sell your car intending to get another car with a lower monthly payment. For example, if your new car payment is $150 per month, the … WebOct 14, 2024 · The short answer is yes, it is possible to buy a car while you're in bankruptcy. You may not be able to get a car loan, however, and you're probably going to have to get …
Can You Get a Car Loan with an Open Chapter 13 Bankruptcy?
WebJan 29, 2024 · Another way to keep your car when filing for bankruptcy is to reaffirm the debt, which means agreeing to a new payment plan with the lender. About two-thirds of those filing Chapter 7 bankruptcy indicate on … WebJustin owes $10,000 on a car worth $7,000. If Justin qualifies for a cramdown, he'll pay the lender $7,000 through his Chapter 13 plan and own the vehicle free and clear after … how to change foley to leg bag
Your Vehicle Before, During, and After Chapter 13 Bankruptcy
WebJan 27, 2024 · Financing a car during a Chapter 13 bankruptcy is possible, but it takes some planning and the right lender to get it done. Typically, you're going to need a subprime lender through a special ... WebOct 21, 2024 · Let's run through the process of buying a car during Chapter 13 bankruptcy. Step 1: Find a Qualified Dealer or Lender The first thing you need to do is find a lender that will finance you. You can try to get financed with a bank or credit union, but traditional lenders rarely work with bad credit applicants. WebJan 27, 2012 · For example, if your Yamaha Banshee is worth $3,000 so long as you sell it somewhere near that price you will be fine. If you sell it to your brother for $500 that is not fine and will result in additional problems … how to change font alert box java