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June 2017 Archives

The Cramdown: Lowering Your Car Payment in Bankruptcy

Lowering Your Car Payment in Bankruptcy Property is often one of the main concerns in bankruptcy. The potential loss of your home or car may become a central focus, as well as the deciding factor in whether you file for Chapter 7 or Chapter 13 bankruptcy. While Chapter 7 is generally considered the liquidation bankruptcy, you can still usually keep your car and home as exempt items and continue to pay on them. In Chapter 13, there is generally no question about keeping your property as it is reorganized into a larger repayment plan overall with debts paid off in three to five years. You may also be able to negotiate better payouts overall, with the cramdown serving as a perfect example.

CAN A LENDER FORECLOSE WHILE A LOAN MODIFICATION APPLICATION IS PENDING?

  can a lender foreclose-thumb-300x200-87706.jpgThe home is where the heart is, often filled with many of our life's memories as well as offering a treasured place of comfort and security. When that becomes threatened, you may find yourself exploring and exhausting every option before giving in to foreclosure.

Our bankruptcy attorneys will help you escape debt and
face the future with optimism.

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