Qualifying for a Cramdown
To qualify for a Chapter 13 vehicle loan cramdown, mostly your loan must be at least two and a half years old. There are exceptions to this.
Jeffrey K. Greenwell
Decrease your Auto Loan
If you can’t afford to pay your vehicle payments even after writing off your other debts under Chapter 7, consider decreasing your auto loan through a Chapter 13 cramdown.
Keep Your Vehicle without Reaffirmation
Can you keep your vehicle without reaffirming its loan? Can you make the payments without reaffirming? What if you can't afford the payments?
Reaffirming your Vehicle Loan
If you want to keep your vehicle and still pay on its loan, file a Chapter 7 case to write off other debts and reaffirm the vehicle loan.
Forgotten Debts
What do you need to do, what efforts is worth taking, if there are debts you don't have any records on or you've forgotten about?
Debts Sold or Assigned to Collection Agencies
What happens if you list a creditor in your bankruptcy case but, unknown to you, it sold the debt to a collection agency that you don't list?
Failing to List Debt but the Creditor Knows about Your Case
Usually if you don'='t list a debt, it doesn't get discharged. An exception is if the creditor still learns about your case, on time.
List all Creditors in Your Bankruptcy Case
If you don't list a debt in your bankruptcy case, and don't add it in on time, it may not be written off. So carefully include all debts.
Bankruptcy Writes Off Vehicle Accident Claims, Unless Intoxicated
Bankruptcy writes off claims against you from a vehicle accident for personal injuries and property damage, IF you weren't intoxicated.
Bankruptcy Can Write Off a Student Loan if it Causes Undue Hardship
Writing off student loans is not easy. You must convincingly show that paying the loan causes you undue hardship, a tough condition to prove.
Bankruptcy will not Write Off Child or Spousal Support Debts
Child support and spousal support debts cannot get written off in bankruptcy. But is your specific divorce debt legally considered support?
Bankruptcy Writes Off (Some) Income Taxes
Bankruptcy permanently writes off income taxes, as long as the tax meets certain conditions. For some taxes the conditions are easy to meet.
Bankruptcy, Criminal Fines and Restitution
Bankruptcy does not write off criminal fines or restitution. But it can help by writing off other debts so you can pay crucial expenses.
Non-Dischargeable Debts in Bankruptcy
Most debts get written off--discharged--in bankruptcy. The only ones that aren't are specifically listed in the Bankruptcy Code.
Do you owe income taxes for 2018 AND Earlier Year
Do you owe income taxes for the 2018 tax year AND already owe for one or more tax years? Chapter 13 may be an especially good tool for you.
