Can bankruptcy lower car payments?

Yes, it can. If you file a bankruptcy under chapter 13, you may be able to lower your vehicle payments depending on several factors. The interest rate, the balance, the amount of time you have had the vehicle, any other debt attached to the vehicle, the maturity date, and the value of the vehicle. It is very important to note that if there are co debtors that are not filing jointly with you, the co debtor will not enjoy the benefit of the bankruptcy. Not everyone can lower their car payments in bankruptcy, and not all the factors apply to everyone. There may be other factors to consider as well, this is just a general answer, as every single case is different. Speak with a bankruptcy attorney if you are interested in filing a chapter 13 case.

  • Facebook Basic Square
  • Twitter Basic Square

©2021. The Rashid Law Firm. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Disclaimer: This Website contains general information. The information on this Website is not intended to be legal advice and viewers should consult with an attorney.

AREAS WE SERVE: Alvin Angleton Bacliff Bayou Vista Baytown Brazoria County Clear Lake City Cypress Dickinson Friendswood Fort Bend County Galena Park Galveston County Harris County Hitchcock Houston Humble Katy Kemah Lake Jackson La Marque La Porte League City Manvel Montgomery County Pasadena Pearland Rosenberg Seabrook South Houston Spring Sugar Land Texas City The Woodlands Tomball Walker County Wharton County Waller County Webster