How many payments behind before repo
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Chapter 7 Bankruptcy
In Chapter 7, you may get to keep your car. You must pay your loan on time each month or your car might be repossessed. According to totalbankruptcy.com, under Chapter 7 bankruptcy, you must pay for the value of the car, not the full debt amount.
Chapter 13 Bankruptcy
Under Chapter 13 bankruptcy, you may get to keep your car, even if you fall behind on payments. Chapter 13 bankruptcy uses your loan's age to determine if you must pay the full amount due on your car loan.
Car loans not protected under specific bankruptcy laws fall to the discretion of each lender. If you stop making payments or get behind on payments, your car can be legally repossessed without warning and without going to court.
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People in Louisiana who are concerned about making payments on a motor vehicle should brush up on the basics of state repossession.
You may be behind on your car payments because you simply have no money left over after living expenses. It may.
. they may be willing to tack on missed. read and study as much information on this topic as you can.
If you've missed a car payment, take action now to avoid repossession. How to Refinance an Auto Before Repossession; ehow.com. About.
View Blog PostSource: ehow.com