DEBTORS' BENEFIT

Just what is Redemption?  Thru a bankruptcy law and procedure known as “Redemption” (11 USC § 722), you are allowed to pay off your existing car lender the value of your car (or lower), NOT what you still owe them.  This payoff can come thru a loan from our company.  If you qualify, you are loaned the money to payoff your existing lender on your vehicle and refinance it, lowering your payments and your loan balance below the payments and balance that you had when you filed your case.  Just as is the case with re-financing a home, this amounts to substantial savings out of your pocket! Ask your lawyer.

Just what is Replacement?  Here are 6 reasons you may want to Replace your Car:

1. Your car has too many miles or is not in good condition or reliable, with too many costly repairs or repairs that will be needed, or
2. Your present car payment is too high and you want a less expensive but reliable car, or
3. You want to redeem, discussing this option with your attorney, but your existing lender won’t make a fair deal when you are in bankruptcy, seeking from you that you either sign a reaffirmation (agree to repay) the entire balance (which is far more than your car is worth) or they insist that if you redeem, the redemption to be paid would be at an amount also above what your car is worth, and they threaten you with repossession if you don’t reaffirm the entire balance or redeem at retail value (discuss this with your attorney), or
4. You can’t qualify for a redemption loan (ie., perhaps you need to scale down to a more affordable replacement car and loan), or
5. You want to surrender your car (let it go) since your attorney advises you that you will not owe anything on it, so you want to have a replacement for it, or
6. You are simply ready to replace your existing car with a different, but reliable car, or an upgrade.

There is NO DOWN PAYMENT – 100% Financing!

You ask: “I just filed for Chapter 7 bankruptcy; why would I be able to qualify for a 'Redemption' or a Replacement loan?”   PLEASE UNDERSTAND THAT ALL OF OUR LOANS ARE MADE TO INDIVIDUALS AND COUPLES WHO, LIKE YOU, ARE GOING THRU A CHAPTER 7 BANKRUPTCY. YOUR BANKRUPTCY DOES NOT DISQUALIFY YOU FOR A LOAN FROM OUR COMPANY!

Since one of the main reasons for filing a Chapter 7 Bankruptcy is to obtain debt relief and a fresh start on your financial situation, you now have an opportunity to maximize your debt relief goal.  THIS IS ALSO A GREAT OPPORTUNITY TO RE-ESTABLISH NEW CREDIT; if you are keeping your vehicle, why not have a better loan with lower monthly payments that saves you money and replaces your existing lender with a new lender, and new, “clean” credit!

Don’t forget, ask your attorney about REDEMPTION AND REPLACEMENT.

Take Action on Your Legal Rights!

You can complete “Step 1 (Online) Intake Information and Vehicle Details Form” and it will be sent to us over the Internet.  Or, you can print and complete these forms and mail them to our office or call us toll free at 1-877-265-8844 and we will take the information over the phone.  From this information a FREE good faith loan estimate will be provided to you (with your new loan balance and new monthly loan payments).