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What Happens to Your Car Loan if You File Chapter 7? #consolidation #loan #calculator

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Car Loan Chapter 7

One common question many potential bankruptcy filers have is what will happen to their car loan in a Chapter 7 bankruptcy. And it’s an important question: many people need to keep their cars in order to keep working.

Every case is unique. Speak with a bankruptcy lawyer right now about your car loan and potential Chapter 7 bankruptcy filing:

Car Loans and Chapter 7 Options

If you decide to file for personal bankruptcy, there are generally three options for determining how to handle a car loan in a bankruptcy. Specifically, these car loan Chapter 7 options include the following:

  • Renewing the loan: The first choice is to re-commit to the car loan you currently have. This involves confirming with your lender that you plan to continue making payments as usual for the duration of your Chapter 7 case, and beyond. In general, this should work for people with affordable car loans who need their cars for transportation to and from work and have no other reasonable option (such as public transit or a bicycle).
  • Redeeming the vehicle: A second option for a car loan in Chapter 7 bankruptcy may be to pay to your lender a lump sum for the value of your car that remains to be paid. Note that you may not have to pay the entire remainder of your loan, only your car’s current value. This can be a long-term savings measure (as you’ll escape paying some interest), but some filers may not have the means to make such a lump payment.
  • Surrendering the car and loan: A third option for dealing with car loans in Chapter 7 is to surrender both your vehicle and what you owe. In other words, you would give the vehicle back to your lender and no longer owe anything on your loan. For someone has an alternate form of transportation, this may be a workable solution, as it could save the expense of both paying for and maintaining a car.

You can discuss these options with a bankruptcy lawyer before making any decisions. You can also ask your lawyer whether Chapter 7 is the best option for you given your situation. Some filers may find that Chapter 13 bankruptcy provides a more workable solution for handling their automobile loan.

Connect with a Bankruptcy Lawyer Today

So how can you determine which option could work best for your finances? No two bankruptcy cases are the same, so you may want to consult with a bankruptcy lawyer about how to best handle your car loan to improve your financial situation. If you’re ready to figure out how to handle your car loan in Chapter 7 bankruptcy, you can connect today with a bankruptcy lawyer practicing in your area .

This is for informational purposes only and is not legal advice. For legal advice on your particular situation, speak to an attorney in your area.

Similar Bankruptcy Topics

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Bankruptcy Attorney Lake Worth, Fl.

Do you need a potential debt free fresh start? If so, you need to file a Chapter 7 bankruptcy and put a stop to the harassing calls, stop wage garnishment and other lawsuits being currently filed against you. Chapter 7 is considered the simplest type of bankruptcy, where you come out with the best chance for a fresh start. I am an experienced Bankruptcy Attorney Lake Worth, Fl.

West Palm Beach Chapter 13 Bankruptcy Attorney

Chapter 13 bankruptcies on the other hand allow debtors to reorganize the debt and like Chapter 7 bankruptcy, it may totally erase or greatly reduce many types of unsecured debts. However, under a Chapter 13 bankruptcy you are required to repay a portion of your debts through a debt repayment plan which is supervised by the court.

Foreclosure Defense Attorney near Boca Raton

Facing foreclosure can be a scary situation for you and your family. As an experienced Palm Beach foreclosure defense attorney in Lake Worth. I want you to know that you do not have to lose your home just because you fall into foreclosure. Let our aggressive foreclosure defense legal services put a stop to it!

Mortgage Loan Modification Attorney

Not all loan modification attorneys are the same. Although most lenders utilize the same applications and request the same documentation from borrowers, experienced loan modification attorneys can best serve your needs. Because your documentation is time-sensitive, it is crucial that you see a professional as soon as practicable to direct you through the process.

Small Business Services, Formation and Compliance

It does not take a rocket scientist to form a corporation with a simple form and a filing fee to the State of Florida, Division of Corporations. The question is where do you go from there? Let our office help you make a determination regarding which corporate vehicle best suits your purposes and reduces your risk and liability.

Lake Worth Bankruptcy, Debt Relief and Small Business Attorney

My name is Alberto H. Hernandez and I am a debt relief attorney practicing in Palm Beach County and the rest of the Tri-County area of Florida, who seeks to help people with issues relating to debt collection, car repossessions, loan delinquencies, credit card debt, garnishment of wages and bank accounts, and foreclosure defense. I also help folks who want to form a company, those who need advice on corporate compliance and purchase and sales of businesses. I have been an attorney working in South Florida since 1991 and I have seen my share of cases and folks with stressful situations brought about by loss of job, medical problems, divorce or separation and other dire circumstances. Forming a new business and complying with the law can also be stressful.

If you are on my website it is probably because you or your company are now being harassed by creditors, have received a lawsuit summons and complaint, and/or are now overwhelmed by debt. You may also be apprehensive about taking the step to begin a business. The truth is, I can almost always help you with your financial problems whether they are business or personal. At minimum, I can point you in the right direction for your circumstances. Whether I can advise you to file bankruptcy to lessen your financial burden or suggest a way to negotiate with your creditors, you can only get informed if you take an affirmative step forward.

The key is to set up an appointment as soon as possible so that I can listen and learn about your particular situation. There is no obligation and the consultation is free. Let me provide you with compassionate debt relief solutions and alternatives so that you can obtain peace of mind in due course. I am a seasoned Bankruptcy Attorney in Lake Worth, Fl. willing to work with you in order to get you out of debt in a way that protects you!

West Palm Beach Bankruptcy Attorney Alberto Hernandez P.A. 2017 all rights reserved – designed by Florida Web Design powered by Miami Search Engine Optimization

Louisiana Bankruptcy Attorney #law #firm, #law #office, #legal #advice, #lawyer, #attorney, #lawyers, #attorneys, #bankruptcy, #chapter #7, #chapter #13, #foreclosure, #repossession, #garnishment, #creditor #harassment


Louisiana’s Oldest Bankruptcy Law Firm

Relief From Debt • Relief From Creditors

Simon, Fitzgerald, Cooke, Reed and Welch is Louisiana’s oldest bankruptcy law firm. Bankruptcy is all that we do. We represent individuals and businesses in bankruptcy. We are committed to assisting our clients in making informed decisions to resolve financial problems. We represent clients in almost every part of Louisiana with offices in Shreveport, Baton Rouge, Lake Charles and Bossier City.

Bankruptcy can provide an opportunity to get a fresh financial start and end the constant stress of financial problems. We understand that filing for bankruptcy is a big step, and you probably have many questions and fears.

At Simon, Fitzgerald, Cooke, Reed and Welch. we know that you would pay your debts if you could, and have mixed feelings about bankruptcy. Our experienced bankruptcy lawyers will walk you through the process, address your concerns and guide you to the debt solution that makes the best sense for you and your family. The consultation with one of our experienced bankruptcy attorneys is FREE.

Louisiana’s Oldest Bankruptcy Law Firm

Bankruptcy law has been our primary focus for more than 50 years. We represent individuals and businesses in filing for Chapter 13 bankruptcy (restructure and reduction plans) or Chapter 7 bankruptcy (Liquidation). Three of our attorneys are certified by the Louisiana Board of Legal Specialization as Consumer Bankruptcy Specialists and/or Business Bankruptcy Specialists.


In most cases, we do not require you to pay the fees and expenses in advance because the fee and expenses are included in the monthly payments made to the Chapter 13 Trustee. Court costs are normally paid prior to filing but may be paid in installments.

Free Consultation

It costs nothing to talk with us. Call or contact one of our offices to schedule a free, confidential appointment with one of our eight experienced bankruptcy attorneys. You will be treated with respect. We will provide you with a free credit report and we will explain your options in a Chapter 13 and Chapter 7 so that you can decide what is best for you.

We explore bankruptcy and all your options, including the benefits, drawbacks and myths about bankruptcy. Call 888-341-8091 or e-mail us to arrange a meeting at one of our five locations.

If you decide to retain us, the initial consultation services will be included in the fee quoted to you, which will be contained in a separate contract signed when you retain our office.

Bankruptcy in Louisiana


Shreveport Office
4700 Line Avenue, Suite 200
Shreveport, LA 71106
Phone: 318-550-4873
Toll Free: 888-341-8091
Fax: 318-868-8966

Lake Charles Office
1 Lakeshore Drive, Suite 1600
Lake Charles, LA 70629
Phone: 337-513-0290
Toll Free: 888-341-8091
Fax: 337-436-7333

Baton Rouge Office
10626 Linkwood Ct, Suite C
Baton Rouge, LA 70810
Phone: 225-224-0340
Toll Free: 800-580-9182
Fax: 225-763-4701

Lafayette Office
2901 Johnston Street, Suite 202
Lafayette, LA 70503
Phone: 337-205-0492
Toll Free: 888-341-8091
Fax: 337-456-5465

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The law firm of Simon, Fitzgerald, Cooke, Reed Welch is focused exclusively in consumer and small business bankruptcy. From offices in Shreveport, Lake Charles, Lafayette and Baton Rouge, we serve surrounding cities of Louisiana, including New Iberia, Prairieville, Central, Sulphur, Eunice, Opelousas, Zachary, Baker, Gonzales, Crowley, Minden, Abbeville, De Quincy, Carencro, Scott, DeRidder, Eunice, Denham Springs, Gonzales, Breaux Bridge, Ville Platte, Mansfield, Coushatta, Benton, Oberlin, Jennings, Cameron, Ville Platte, Lafayette, Abbeville, New Roads, Plaquemine, Donaldsonville, we also serve surrounding parishes of Louisiana, including Caddo, Bossier, Webster, DeSoto, Calcasieu, Beauregard, Lafayette, Iberia, East Baton Rouge, West Baton Rouge, Livingston, and Ascension.

Oklahoma Department of Mental Health and Substance Abuse Services – DUI – Alcohol and Drug Substance Abuse Courses (ADSAC) #oklahoma #department #of #mental #health #and #substance #abuse #services,adsac,you,522,must,your,license,hour,drug,alcohol,assessment,1,offenders,10,revocation,substance,abuse,certificate,title,those,dui,chapter,program,july,2003


For Oklahomans who have had their driver s license revoked or suspended, care has been taken to assure that you will be properly assessed in order to provide the most meaningful level of intervention for your individualized situation.

Once your assessment has been completed, a referral will be made to the appropriate intervention. The referral environment is an opportunity to review your current (and past) drinking and/or drug using behaviors, relating to your driving privilege. This allows you to decide if there are problems and determine any corrections that may need to be made. Levels of intervention range on a continuum from a 10 hour DUI school (called an ADSAC course) and Victims Impact Panel to Residential Treatment, including aftercare.

For those offenders receiving an alcohol or drug related license revocation on or before June 30, 2003 you must complete an ADSAC assessment and contact DPS to determine what recommendations you must follow.

  • If you have attended an alcohol and drug treatment program from an agency CERTIFIED BY ODMHSAS and want to submit treatment for consideration, please download the ADSAC cover form on this web site and either mail or fax it to the address listed with a copy of your completion certificate.
  • We strongly encourage you to not drop the form and certificates in person as we cannot guarantee that someone will be available to meet with you. If there is a need to discuss the information in person, an appointment can be made with Tammy Anderson, by calling (405) 248-9027.
  • Your certificate must state the length of time of the program and level of intensity of your program, examples: 10-hour school; outpatient counseling; residential treatment. If this information is not on the certificate, you must get a letter stating this information and attach it to the certificate.

For those offenders receiving an alcohol and drug related license revocation on or after July 1, 2003, you must obtain an ADSAC assessment and complete all recommendations identified by the assessment that are required for license reinstatement.

Oklahoma Department of Mental Health and Substance Abuse Services (ODMHSAS) works in close connection with Department of Public Safety (DPS) to implement and set forth standards and criteria, contained in DPS statute: Title 47 Chapter 6-212.2, for persons needing alcohol and drug assessments and evaluation related to driver s license revocation or suspension. ODMHSAS administrative rules are contained in Title 450 Chapter 22, Certification of Alcohol and Drug Assessment and Evaluations Related to Driver s License Revocation, effective September 1, 2016 and Title 450, Chapter 21, Certification of Alcohol and Drug Substance Abuse Courses (ADSAC), Organizations and Instructors, effective September 1, 2016.

For more information contact:
Tammy Anderson

(405) 248-9027
(405) 248-9324 Fax


Oklahoma Department of Mental Health and Substance Abuse Services
1200 NE 13th Street, PO Box 53277
Oklahoma City, OK 73152-3277
405-522-3908 | 405-522-3851 TDD | 405-522-3650 Fax | Toll-Free, 24 Hours 1-800-522-9054
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Last Modified on 05/24/2017

2017 The State of Oklahoma

The New Bankruptcy Law: Changes to Chapter 7 and 13 #chapter # #bankruptcy #laws


The New Bankruptcy Law: Changes to Chapter 7 and 13

In 2005, Congress overhauled the bankruptcy laws. Those changes made it harder for some people to file for Chapter 7 bankruptcy ; high income filers that can’t pass the means test, will have to repay at least some of their debt in a Chapter 13 bankruptcy. In addition, the 2005 law requires all bankruptcy filers to get credit counseling before they can file a bankruptcy case — and additional counseling on budgeting and debt management before their debts can be wiped out.

Here are some of the most important changes in the 2005 bankruptcy law.

New “Means Test” for Chapter 7 Bankruptcy

Under pre-2005 bankruptcy rules, most filers could choose the type of bankruptcy best for them — and most chose Chapter 7 bankruptcy (liquidation) over Chapter 13 bankruptcy (repayment). The law passed in 2005 prohibits some filers with higher incomes from using Chapter 7 bankruptcy.

How High is Your Income?

Under the rules enacted in 2005, the first step in figuring out whether you can file for Chapter 7 bankruptcy is to measure your “current monthly income” against the median income for a household of your size in your state. If your income is less than or equal to the median, you can file for Chapter 7 bankruptcy. If it is more than the median, however, you must pass “the means test” — another requirement of the new law — in order to file for Chapter 7.

The Chapter 7 Means Test

The purpose of the means test is to figure out whether you have enough disposable income to make payments on a Chapter 13 plan. To find out whether you pass the means test, you subtract certain allowed expenses and debt payments from your current monthly income. If the income that’s left over after these calculations is below a certain amount, you can file for Chapter 7.

Counseling Requirements

Before you can file for bankruptcy under either Chapter 7 or Chapter 13, you must complete credit counseling with an agency approved by the United States Trustee’s office. The purpose of this counseling is to give you an idea of whether you really need to file for bankruptcy or whether an informal repayment plan would get you back on your economic feet.

Counseling is required even if it’s obvious that a repayment plan isn’t feasible or you are facing debts that you find unfair and don’t want to pay. You are required only to participate, not to go along with any repayment plan the agency proposes. However, if the agency does come up with a repayment plan, you will have to submit it to the court, along with a certificate showing that you completed the counseling, before you can file for bankruptcy.

Toward the end of your bankruptcy case, you’ll have to attend another counseling session, this time to learn personal financial management. Only after you submit proof to the court that you fulfilled this requirement can you get a bankruptcy discharge wiping out your debts. (The website above also lists approved debt counselors.)

It’s More Expensive to File Chapter 7 Bankruptcy With a Lawyer

The changes to bankruptcy law enacted in 2005 added some complicated requirements to the field of bankruptcy. This made it more expensive — and time-consuming — for lawyers to represent clients in bankruptcy cases, which means attorney fees have gone up. The 2005 law also imposed some additional requirements on lawyers, chief among them that the lawyer must personally vouch for the accuracy of all of the information their clients provide them. This means attorneys have to spend more time on bankruptcy cases, and they charge their clients accordingly.

To learn more about finding the right bankruptcy lawyer for your case, how much typical attorney fees are, and more, see Getting Help with Your Bankruptcy .

Or, to find a bankruptcy lawyer in your area, see Nolo’s Lawyer Directory for a list of bankruptcy attorneys. Nolo’s directory provides comprehensive profiles of the bankruptcy lawyers who advertise there, including each lawyers education, background, areas of expertise, fees, and practice philosophy.

Some Chapter 13 Filers Will Have to Live on Less

Under the old rules, people who filed under Chapter 13 bankruptcy had to devote all of their disposable income — what they had left after paying their actual living expenses — to their bankruptcy repayment plan. The 2005 law added a wrinkle to this equation: Although Chapter 13 filers still have to hand over all of their disposable income, they have to calculate their disposable income using allowed expense amounts dictated by the IRS — not their actual expenses — if their income is higher than the median income in their state. These allowed expense amounts must be subtracted not from the filer’s actual earnings each month, but from the filer’s average income during the six months before filing. (Learn more about calculating your disposable income in Chapter 13 bankruptcy .)

Other Changes

Other changes were made in 2005 that have affected some bankruptcy filers negatively, including how property is valued (at replacement cost instead of at auction value, which means more debtors are at risk of having their property taken and sold by the bankruptcy trustee ) and how long a filer must live in a state to use that state’s bankruptcy exemption laws (this can make a big difference in the amount of property a bankruptcy filer gets to hold on to). (You can learn about bankruptcy exemption domicile rules here .)

All of these changes and others are explained in detail in The New Bankruptcy: Will It Work for You? by Stephen Elias (Nolo).

Get debt relief now.

Chapter 7 Bankruptcy #pa #chapter # #bankruptcy, #chapter #7 #bankruptcy


Chapter 7 Bankruptcy

Chapter 7 bankruptcy protection allows debtors to get rid of most of their debts and start over with a clean slate. However, it also has its drawbacks, including the loss of property and a depressed consumer credit score. Chapter 7, also called liquidation or straight bankruptcy, is the process by which a debtor’s assets are sold, creditors receive payment, and you are then free from your debts. You must be eligible to file for bankruptcy, and the rules vary depending on the type of case you want to file. Bankruptcy laws changed significantly in 2005, making it harder to qualify for Chapter 7 relief. This section contains in-depth information about Chapter 7 bankruptcy, including eligibility under the means test, types of debts that cannot be discharged, and other tips to help you with the process.

In order to file for Chapter 7 bankruptcy you must meet certain eligibility requirements, including the means test. If the debtor fails to meet Chapter 7 requirements, a bankruptcy court can convert the case to a Chapter 13 bankruptcy. With the exception of disabled veterans that file to eliminate debt that was incurred while on active military duty or filers with debt that primarily came from operating a business, all other filers must meet Chapter 7 requirements.

Bankruptcy Exemptions: Chapter 7

Chapter 7 bankruptcy is sometimes referred to as liquidation bankruptcy because it involves gathering the property or assets of the filer, and then selling them to pay off as much debt as possible before the rest of the debt is discharged or eliminated. Bankruptcy law, however, protects some kinds of property from being sold off to pay these debts. These protections are called exemptions and include real estate such as a residence, automobile, certain personal property, and wildcard exemptions (a catch-all for property that doesn’t fit into a designated category). When determining what is considered exempt, many states allow you to choose and use the state’s definition of exempt or the list set out by federal law. Some states require you to use the state’s list. Be sure to check your state’s laws to find out what applies to your state.

Exempt vs. Non-exempt Property Under Chapter 7

Some property simply cannot be protected from creditors, even when filing for bankruptcy. Property that is not exempt may include expensive musical instruments, unless the debtor is a professional musician; collections of stamps, coins, and other valuable items; and family heirlooms. Cash, bank accounts, stocks, bonds, and other investments, a second car or truck, or vacation home likely will not be exempt.

How a Bankruptcy Attorney Can Help

Getting the right help when you file for bankruptcy is crucial to its success, whether you file on your own, get a lawyer, or use a bankruptcy petition preparer. Consider seeking a consultation with an attorney to help you decide whether you need legal representation or can simply go it alone. Many bankruptcy attorneys offer initial consultations free of charge.

How To Buy a Car After Bankruptcy #how #to #buy #a #car #after #bankruptcy, #buying #a #car #bankruptcy, #chapter #7, #chapter #13, #auto #loan, #bankruptcy


How To Buy a Car After Bankruptcy

Even if your finances have hit the skids and you’ve landed in bankruptcy court, it doesn’t have to mean you need to put the brakes on buying a car.

“Lenders lend to people in bankruptcy all the time,” though interest rates could be sky high, says Edward Boltz, a bankruptcy attorney in Durham, North Carolina, and president of the National Association of Consumer Bankruptcy Attorneys.

The key to buying a car after a bankruptcy, experts say, is to shop around for an auto loan, just as you would if you didn’t have that black mark on your credit report.

When you’re just emerging from bankruptcy, “you’re likely to agree with just about anything they’ll give you. But you shouldn’t just take the first offer you get,” warns Chris Kukla, senior vice president at the nonprofit Center for Responsible Lending.

A study by the center found that in 2009, consumers paid $25.8 billion in extra interest over the lives of their loans due to inflated interest rates, according to Kukla. Those who paid exorbitant interest rates were more likely to fall behind on their loans and eventually have their cars repossessed.

It’s Not Hopeless

But your situation doesn’t have to be that grim. If you’ve had a good track record paying previous car loans or your financial issues stemmed from uncontrollable events, you may very well be able to finance your vehicle through a lender such as a credit union, says Phil Maniaci, senior vice president of CU Direct Corp.’s CUDL Automotive, which administers the largest auto lending service network for credit unions.

Unlike megabanks, credit unions are generally located in the communities that they serve, so those managers understand the vagaries of the local economy, such as a city where a major factory closed, leaving workers unemployed, Maniaci says. Because of that familiarity, “they’re a little more flexible on auto loans.”

Bankruptcy has often been seen as a tactic of those who are financially irresponsible, but unforeseen hardships such as medical bills and divorce often drive people into bankruptcy court.

The situation has been exacerbated by the Great Recession, when unemployment peaked at 10 percent in October 2009. Although the rate had dropped to 7.6 percent in the summer of 2013, many people have wound up in jobs making far less than they once earned. And it’s not unusual for people to be out of work for a year or more.

The recession officially began in December 2007, and since that time, more than 7 million consumer bankruptcies have been filed, according to the American Bankruptcy Institute. Some cases involve a single individual, while others involve couples.

Chapter 7 and Chapter 13

About 70 percent of those who file bankruptcy choose Chapter 7, so most of their debts are erased in a matter of months, but it can stay on their records for up to 10 years.

Most others opt for Chapter 13 in a bid to save their assets. They wind up paying all or part of their debts, and the process can take up to five years. And even when they’ve completed the process, it can stay on their records for up to seven years.

Because Chapter 13 cases can take so long, it’s not unusual for the person involved to need a new car during that time. And the bankruptcy trustees who oversee cases understand that.

“It’s really not hard to get new debt, particularly if you need it,” says Henry Hildebrand III, a Chapter 13 bankruptcy trustee in Nashville, Tennessee. As a bankruptcy trustee, he must approve auto loans or other new debt a consumer wants to take on while in the midst of bankruptcy proceedings.

Don’t Expect a Luxury Car

Although a trustee is likely to approve your getting a new auto loan, don’t expect him to sign off on a new Mercedes or Jaguar. You’re more likely to get the green light to buy a used vehicle below a certain price, such as $20,000, and the maximum interest rate could be capped at rates such as 15 or 18 percent.

That’s far steeper than someone with stellar credit would pay, says Todd Mark, vice president of education for the nonprofit Consumer Credit Counseling Services of Greater Dallas, citing interest rates listed by FICO, which is best known for assigning credit scores.

FICO scores range from a low of 300 to a high of 850. As of mid-June 2013, someone with a credit score of 720 or higher would typically pay around 3.80 APR for a 36-month car loan. At the lower end of the spectrum, someone with a credit score of 500-589 would expect to pay about 17.02 APR, Mark says.

The longer you’ve been out of bankruptcy, and the more you’ve been able to put your financial house in order, the better chance you have of landing a decent interest rate, Mark says. “There’s more time to heal some of the wounds, not just with time but with good behavior” in paying other debt.

Because your vehicle serves as collateral for the loan, “a car loan might be one of the best credit builders post-bankruptcy,” Mark says.

What Lenders Expect

Maniaci says if you’re applying for an auto loan, lenders focus on your history of making car payments and mortgage payments. Your track record for paying on your current vehicle carries the most weight. Lenders’ focus on mortgage payments has slipped a bit in recent years, given the foreclosure crisis and the fact that so many houses are underwater.

Lenders will look at whether you’ve missed a payment or two on your current car loan and are now back on track, and if an uncontrollable incident, such as a job loss, impacted your finances, he says. They’ll also consider your income and monthly expenses. If making the monthly payment is considered a financial stretch, they’ll want you to put more money down on the vehicle, minimizing their risk if they ultimately have to repossess it.

If you’re an existing credit union member and you’ve been reliable making payments in the past, there’s a good shot the credit union will give you a second chance, Maniaci adds.

While it may take time and effort to find a credit union or bank that will lend to you, “just because you have a blemish on your credit report doesn’t mean you can’t get credit somewhere,” Kukla says.

The Trouble with “Buy Here Pay Here”

But consumers don’t like hearing “no,” and feeling like they’re being judged, he says, so they may be inclined to take the first offer they receive. That’s thrown open the doors for “buy here, pay here” auto dealers. where shoppers arrange financing and make payments at the dealership. These dealers, in particular, can be “very aggressive in marketing to people with credit problems,” Kukla says. But that could be disastrous.

Katie Moore, a financial counselor with the nonprofit GreenPath Debt Solutions, says dealers who offer to sell cars with no credit check and no money down “are really preying on consumers who are uneducated about the process.”

They’re likely to offer sky-high interest rates and lengthy loan terms on older vehicles in order to keep the monthly payments low. But it’s not uncommon for the car to break down, while the buyer is still paying on the loan, Moore says.

Kukla says these kinds of dealerships tend to sell vehicles that have 100,000 miles or more on their odometers. The dealerships typically buy the cars at auction, put a bit of money into them and then sell them for two to three times more than their cost.

The dealers then require a down payment of 25-30 percent of the price. “It’s a huge down payment on a very unreliable car,” Kukla says.

The dealerships also charge interest rates at the high end of what is allowed in whatever state they’re doing business. Each state sets its own interest rate limit. In North Carolina, where Kukla is located, interest rates can reach 29 percent.

And in many cases, dealers won’t even tell you the car’s price, he says. “Most don’t set the price until after they look at your credit report,” Kukla says. Once they do, they’ll offer you two or three vehicles to choose among.

Kukla says about one-quarter of those vehicles end up being repossessed, and then can be sold to the next buyer facing a credit crunch.

To avoid being taken for a ride, Moore recommends that if you’re coming out of bankruptcy, you use public transportation if you can’t afford to pay cash for a vehicle.

Shop with Care

Some other ideas come from the National Independent Automobile Dealers Association (NIADA), which includes “Buy Here, Pay Here” dealers among its members. Check with your state attorney general’s office and the Better Business Bureau to see if there are any consumer complaints on file before you do business with a car dealer, suggests NIADA regulatory counsel Shaun Petersen, who previously worked for the consumer protection section of the Ohio Attorney General’s Office.

Also check with friends and family members to see if they can recommend a reliable dealership, Petersen says. Finally, he says it’s imperative to “do your due diligence to find out if a business has a significant number of complaints.” And if there are?

“It could be a red flag for you,” he says.

The Edmunds content team brings you industry-leading vehicle reviews, news and research tips that make it easier for you to find your perfect car.

How to File for Chapter 13 Bankruptcy: 13 Steps (with Pictures) #chapter # #bankruptcy #oregon


How to File for Chapter 13 Bankruptcy

Decide whether bankruptcy is the best choice for you. If you are in trouble financially, there are a number of things you can do to get yourself back on track. Bankruptcy should be considered your last resort. In general, people file for Chapter 13 bankruptcy as a way to stop a home foreclosure. Again, this should be your last resort, so try working with your creditors to find a different solution before resorting to bankruptcy. [1]

  • Before filing, also consider that filing for bankruptcy completely destroys your credit score. In some cases, your score may be reduced by several hundred points. In addition, it will stay on your credit report for 10 years, and will greatly reduce your ability to get new credit or loans during this time. [2]
  • It is generally a good idea to file for bankruptcy if your creditors are garnishing your wages, suing you, or trying to repossess your assets. [3]

Determine if Chapter 13 is the right bankruptcy option. Chapter 13 is an alternative to Chapter 7 and is designed for people with a regular income who want to pay off their debts but need a certain amount of time to do so. In Chapter 13, debtors repay their creditors either in full or in part over a period of up to three years. In some cases they are allowed to repay their creditors over five years. Anyone can apply for Chapter 13 bankruptcy if their unsecured debts are less than $383,175, and their secured debts are less than $1,149,525. However, corporations, partnerships, and those who have had a bankruptcy petition dismissed in the past 180 days cannot file under chapter 13.

  • Chapter 13 also allows you to keep your assets. In contrast, a Chapter 7 filing may force you to sell your possessions (such as non-essential vehicles, boats, and expensive electronics).
  • If you are a farmer or a fisherman, you should file for Chapter 12 bankruptcy instead. [4]

Understand what happens to your assets. Secured debt (debt that, if unpaid, will result in the repossession of an asset like a car or home) is treated differently in Chapter 13 than in Chapter 7. Your mortgage payments and payments on a new car (purchased less than 2.5 years ago) cannot be discharged, but your car loan can be modified down to a set rate of 5.25 percent. An older car, however, can be “crammed down,” to its true value, freeing you of paying any interest on the loan (but you still have to pay back the car’s value).

  • Unsecured debts, like credit card debt and medical bills, is paid back according to your ability to pay it. Essentially, all of your income that doesn’t go towards essentials will be paid to your creditors during the repayment period.
  • Attorney’s fees incurred during the trial are paid off during the repayment plan as well. [5]

Know which loans are not discharged or modified. In a Chapter 13 filing, your primary resident mortgage loan cannot be reduced or discharged. Instead, mortgage payments will be increased to cover any missed payments as part of your repayment plan. In addition, tax debts owed to the government and domestic payments (child support and alimony) cannot be discharged. However, some tax debts may be spread out or modified, depending on your situation. Finally, Chapter 13 bankruptcy does not allow you to discharge your student loan debts. Under your repayment plan, you may get a break from paying student loan payments but your debt will not go down. [6]

  • If you are trying to discharge your student loans through bankruptcy. your only option is file for Chapter 7 bankruptcy. Even then, you may have a hard time getting the court to discharge this debt.

How to Apply for the Link Card in Illinois

How to File for Chapter 7 Bankruptcy

How to File Bankruptcy in the United States

How to Rebuild Credit After Bankruptcy

How to File Chapter 7 Bankruptcy Without a Lawyer

How to Buy a Car While in Bankruptcy

How to Buy a Home After Filing Bankruptcy

How to Get Car Loans After Bankruptcy

How to Build Credit After Bankruptcy

How to Reapply for a Mortgage After Bankruptcy

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Red Hat Chapter Monthly Meetings

The Red Hat Chapter holds monthly meetings for Parachute Riggers (friends and family are always welcome) in an effort to promote camaraderie, instill esprit de corps, maintain tradition, and recognize excellence within the Rigger Community. Our monthly meetings are held at Elizabeth’s Pizza at 2468 Hope Mills Rd, Fayetteville, NC (link to map ) at 1200hrs on the third Saturday of each month. Come and join us!

Upcoming Events

15 Jul 17 – Chapter Meeting – Buy a buddy a meal and say hello to your fellow Riggers.

19 Aug 17 – Chapter Meeting – Please bring an outstanding Soldier and have them recognized for Soldier of the Month, Packer of the Month, or anything else worthy. Just let us know about it in advance so we can get the certificate ready.

16 Sep 17 – Chapter Meeting – Stop by and visit with some old friends or make new ones. See what the Red Hat Chapter is about.

Recent News
To see all news archives, click here

26 Mar 17 – I found an article in the Sep 2016 of Car and Driver titled, “Dropping Democracy: How the Army Yanks a Humvee Out of a Plane and Drives It Away 750 Feet Later”. It breaks down airdrop for non-Riggers. Check out the article here. or view the original source here.

6 Mar 17 – We received a copy of Clipped Wings. from Nick – the President of the Australian Air Dispatch Association (Riggers). Please note that there have been some changes to the 2017 International Rigger Reunion due to the low number of people attending. View their newsletter here or visit the original source here.

23 Feb 17 – We received an email of urgency from Nick, president of the AADA, concerning the International Rigger Reunion currently scheduled for 21-25 Aug 17. If you plan on attending please use this link to register ASAP.

21 Jan 17 – At our monthly luncheon, The Red Hat Chapter said goodbye to our Quartermaster, Gaylin “Jess” Jesmer. This is sad, because Jess was the only Quartermaster the RHC has ever had – other than perhaps Del in the earliest years. Jess is moving out of state and building a home in the great Northwest with his wife. Thank-you for your many years of professional service and friendship with all the Chapter’s members. Good luck on all your future endeavors!

3 Nov 16 – Warrant Officer Lloyd Johnson from 3rd SFG(A). sent a link of PFC Kyle Lyzenga and PFC Clayton Reynolds being awarded for their actions at the Cross Creek Mall. Airborne Riggers looking good! Read the PDF article here or view the original source here.

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“It was a huge relief of stress for us. The process was very smooth and painless. After doing extensive research, I am glad we found Brian. Not only did he get the job done, was very nice and personable, I also found he was the most cost effective attorney in the Portland area for bankruptcy My wife and I are now in great financial stability. We got a great second chance.” R.W.

Welcome to I have been a Portland bankruptcy lawyer since 1994 and before that worked as a bankruptcy attorney in Eugene for a two years after law school. In the last 20 years I have helped hundreds of clients successfully file bankruptcy in Oregon and receive their discharge. Bankruptcy is not always the right choice and, if it not the right choice for you, we can explore other options such as credit counseling, negotiation and debt settlement. Please feel free to give me a call at 503-284-0994, text message me at 503-936-5026 or send me an email with any questions or concerns you may have or to schedule an appointment. I handle cases in the following counties: Multnomah, Clackamas, Washington, Columbia, Tillamook, Yamhill and Mt Hood.

Finding the right bankruptcy attorney.

Even thinking about filing a bankruptcy brings up many emotions and worries, and trying to choose a lawyer to help you through the bankruptcy filing process is not easy. Let’s face it, there are many bankruptcy attorneys in Oregon and, unless you were referred to me from someone you know and trust, you do not know much about me. I would like to assure you that my goal is to help you through the process with understanding, compassion and skill. I hope that after browsing through this website you will learn enough to feel comfortable contacting me via emai l or telephone to schedule a free consultation. Filing bankruptcy is a legal and ethical option for people that need help. Let me explain how bankruptcy may be able to help you by scheduling a free office or telephone consultation. My initial consultations are always free* and there is no pressure to “sign up.”

Important – New exemption laws in Oregon – In July, 2013 the Oregon Legislature enacted a law allowing many Oregon residents to use the federal bankruptcy exemptions. This change will help many people with their fresh start after bankruptcy because it will allow them to exempt more of their property, including tax refunds. At your initial consultation we will discuss how this may benefit you.

Former Client Testimonial:

“I would just like to thank you very much for helping us out in such a trying time. You were very professional and in no way made us ever feel like we were bad people . We came to you with only days before we lost our home (because others said they could help and left us our to dry) and you were able to help us file bankruptcy and keep our home. I am very grateful and will recommend you to anyone who needs a good attorney. Again I want to say thank you from the bottom of my heart.” Respectfully Mrs. H.

Is Filing Bankruptcy Right For You?

Is bankruptcy the right choice? Bankruptcy can help you and other honest, hard-working people get rid of burdensome debts and get bills under control. It can also do many other things like the following:

  • Stop garnishment.
  • Stop foreclosures.
  • Stop harassing phone calls.
  • Put a stop to collection agency abuse.
  • Prevent utility shut offs.
  • Stop car repossessions.
  • Get your car back after a repo.
  • Eliminate some income taxes.
  • Pay back child support.
  • Stop driver’s license suspensions.
  • Stop lawsuits.

How to get started.

No Charge Bankruptcy Consultation:

I offer a free initial bankruptcy consultation by telephone or in person at my NE Portland office so that you can get your questions answered and make sure bankruptcy will work for you. I can also often answer some questions by email if you do not feel comfortable calling. An initial consultation will usually last about one hour and during that time we will discuss the following things:

Why you are thinking about bankruptcy.

What property do you own and is that property at risk of being taken by a bankruptcy trustee.

What is your income.

Recent financial transactions

Will bankruptcy work for you.

Necessary information and documents to file bankruptcy

What to expect at your bankruptcy hearing

Required credit counseling:

When Congress changed the bankruptcy laws back in 2005 they created a mandatory credit counseling requirement. I have recommended a low cost Portland Bankruptcy Counseling Company for more than a year with good results. They charge $16 for single or married applicants and the bankruptcy counseling can be done entirely online. You do not need to have this done before you schedule a consultation with me, but it does need to be completed before you can file a bankruptcy case with the court.

The following notice is required by federal bankruptcy law: I am a debt relief agency, I help people file for bankruptcy under the bankruptcy code.

I am licensed to practice law in Oregon and can only represent Oregon residents. If you live in another state, please call your local bar association to find a lawyer in your state

Important Disclaimer: I provide this website for information and advertising purposes only. It is not intended to and does not constitute bankruptcy assistance services or specific legal advice on a specific matter. As I am sure you understand, I can only offer to provide legal advice to people that participate in a telephone or office consultation directly with me. The information contained on this website does not and should not be construed as legal advice. You should not act on any of the information contained in this website without first conferring with an attorney licensed in your jurisdiction. No attorney-client relationship or privilege is formed by visiting this site or by sending unsolicited email. Initial emails should not contain any confidential information or information you want to keep secret. I am licensed only in Oregon and offer my services only in Oregon. The applicable laws may have changed after the information on this website was published. While I strive to keep the information current, you should not presume that all information is up to date since laws change frequently. You must confer with an attorney to be sure you have current information. Sections 341, 342, 527(a) and 527(b) of the Bankruptcy Code require that an “assisted person” be given certain required disclosures and notices. I urge every person who is considering bankruptcy to seek the advice of a competent attorney.

Brian Wheeler Attorney At Law © 2006-2015 | All Rights Reserved