top of page

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.

Recent Posts

See All

What is cross collateral in bankruptcy?

An example of cross collateral is when you have a vehicle being financed with a credit union and also have a credit card with that same credit union. If you file for bankruptcy under chapter 13, the v

Abogado de bancarrota en Houston

Si estas buscando un abogado de bancarrota en Houston que habla español pues ya lo encontró. El abogado Rashid habla español con fluidez ya que se crío en Puerto Rico. llámenos ahora si necesitas elim

bottom of page