Bankrate – If you are considering bankruptcy, it can be hard to decide what to do with your car loan. You may have difficulty paying all your debts, but at the same time, you want to keep your vehicle. In fact, it could be nearly impossible to get back on your feet financially without the use of a car, which is often needed to travel to a job and earn money, says Andrew Radmin, a bankruptcy attorney with Carkhuff & Radmin in North Plainfield, N.J. Fortunately, it is possible to keep a car in bankruptcy. “For people who have a vehicle, are financing it and want to keep it, there’s a method that can be used for them to continue to make payments and maintain the car they own,” says Radmin.
- Even in bankruptcy, you may need your car to get to a job.
- Under Chapter 13, the borrower would continue to pay off some debts.
- With Chapter 7, the borrower gives up assets to walk away from debt.
Are you considering bankruptcy? You need a reliable Kansas City bankruptcy attorney who can provide immediate relief. The Sader Law Firm has more than 30 years of combined experience in Chapter 7 bankruptcy, Chapter 11 bankruptcy and Chapter 13 bankruptcy cases.
The Sader Law Firm can help provide you with financial freedom. Contact an attorney at The Sader Law Firm today for a free consultation at (816) 281-6349 to find out whether you qualify for bankruptcy and to learn more about the options available to you.