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The Surprising Benefits: Keeping Your Vehicle Lease under Chapter 13
You can keep your leased vehicle under Chapter 7 if you're current. If not, or have other reasons to do a Chapter 13 case, that works too.
You can keep your leased vehicle under Chapter 7 if you're current. If not, or have other reasons to do a Chapter 13 case, that works too.
If you file a Chapter 7 case and write off your other debts, will you want to keep your vehicle lease? You can if you're current on it now.
Chapter 7 gets you out of a vehicle lease owing nothing. Chapter 13 is more complicated but can give you pretty much the same good result.
Rejecting a vehicle lease in a Chapter 7 case simply requires a formal statement that you reject it. The Option of “Rejecting” the Lease When…
A Chapter 13 case lasts a long time, but can have many advantages. Many of those advantages come only if you successfully finish it.
The automatic stay immediately stops most collection actions when you file bankruptcy. But it doesn't stop a "criminal action or proceeding."
To be able to keep your property that's collateral or security on a secured debt, you must give that secured creditor "adequate protection."
A creditor might file a motion to avoid violating the stay, or to get permission to take some action other than collect a debt.
A creditor might want to pay a claim through your insurance, or finish a lawsuit to establish that you got the debt through fraud.
Here's why you usually don't pay more in a Chapter 13 case to get rid of taxes that you could simply write off in a Chapter 7 case.
Bankruptcy will stop foreclosure fast. But there are excellent reasons to get your ducks in a row early.
See these bullet points on dealing with your home lender under Chapter 7 and under Chapter 13.
To make any important decision wisely, you first need to become well-informed about your options. Then you can weigh those options and make the best choice.
If you covered every square inch of a standard football field with stacks of crisp $100 bills, how high would those stacks reach to match our national debt?
Found so much interesting about taxes that wouldn't fit into our last blog, so had to give you more. Such as the income and taxes of the wealthiest tax return filers.