7 BANKRUPTCY FILERS (OR FORMER FILERS) – YOUR CAR AND CAR LOAN – TOUGH QUESTIONS - AND DECISIONS
Can you really afford to keep your present car and keep making the payments on it? Or, are you so far behind on your car loan that you don’t have the money to get caught up on it? Are you now at risk (because you are not current on your loan or not insuring your car) that your lender is pressuring you to pay or have your car repossessed?
Is your car too old, with costly repairs and maintenance, and not reliable for your future? Could you save money with a more economical fuel efficient car if you could do so now? Do you want a different make, model, lower miles and lower insurance premium?
Can you get another car and a different car loan and give your present car back to your lender? If you give it back, will you still owe on it, or will you be able to walk away from it (not owe a penny as your attorney advises) as part of your discharge from your present or past Chapter 7 Bankruptcy?
Why get another car and car loan? SAVINGS put back in your pocket! Here’s just one example of a case where others in your situation have similar results: Take a car with a loan balance of $25,000.00 and a borrower who filed a Chapter 7 bankruptcy due to their financial situation. Payments were $600.00 per month. After filing, needing a fresh start and debt relief for their car situation as well, they qualified for another car and car loan, could let their old car go back to their lender without any further obligation (as advised by their attorney) and bought a car for under $15,000 with payments of under $350.00 per month (or lower). In this example, the borrower who qualified for the car lowered their loan balance by $10,000.00 and their monthly payments by $250.00, and got into another car! What is your likely savings by getting out of your present car/car loan and into another car/car loan?
Why get another car and car loan? Your car is a necessity for you and your family, your work and transportation needs. If you are going thru (or been thru) Chapter 7 bankruptcy (as advised by your attorney), with a new loan on another car, you start fresh, new credit history that you rebuild based upon your future payment performance, on what may be the only debt you need or want to have after you file(d) you case….your much needed car and car loan.
Make the best of your difficult and past financial situation if you have to go thru Chapter 7 bankruptcy (or have in the past). Maximize your fresh start and debt relief!
Complete the secure online application now and get started to see if you qualify for another car and car loan, for your Fresh Start!