Category: Bankruptcy

Information about Bankruptcy Auto Financing

How Bankruptcy Can Get Rid of Your Car Loan Deficiency

If a lender sells a repossessed or surrendered car at auction, the selling price may not cover the entire loan balance. If it doesn’t, the amount left over is called a car loan deficiency.

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Steps to Buying a Car During Chapter 13 Bankruptcy

A Chapter 13 bankruptcy involves committing to a repayment plan with your creditors over a three- or a five-year period. That’s a long time, and you may find that you need to finance a vehicle while you are in the middle of the bankruptcy. It’s possible to get approved for an auto loan during a Chapter 13 bankruptcy, but there is a procedure that must be followed.

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Should You Purchase a Car before Filing for Bankruptcy?

If you really need to purchase a car before filing for bankruptcy (BK), it might be possible for you to do so. There may even be some advantages that come with buying a vehicle pre-bankruptcy.

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Making an Informed Decision about Filing for Bankruptcy

For some consumers dealing with serious debt, bankruptcy is a good solution to their problems. However, filing for bankruptcy (Chapter 7 or Chapter 13) isn’t the right move for everyone who is struggling financially.

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How to Rebuild Your Credit after Chapter 7 Bankruptcy

It is a last resort measure, but Chapter 7 bankruptcy can leave you with a fresh start and an opportunity to rebuild your credit from the ground up.

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Can You Keep Your Vehicle in Chapter 7 Bankruptcy?

If you file for a Chapter 7 bankruptcy, what will happen to your vehicle? Most Chapter 7 filers have to decide whether they want to keep their car or surrender it to the lender.

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Bankruptcy Filings in the Detroit Metro Area by Month

The Detroit metropolitan area is the biggest in Michigan in terms of size and population. It is well known as the home of many automakers and is a key part of the U.S. economy.

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