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A Chapter 13 Repayment Plan could Halt Your Car Repossession

Posted By Majed on Jan 3, 2011 7:00am PST

Chapter 13 is a form of bankruptcy protection that allows debtors to work out payment agreements with creditors under court-supervision.  The new agreements are legally binding and replace the previous contract that the debtor could not manage.  Typically these repayment plans are between 3-5 years.

Filing for Chapter 13 halts all creditor attempts at debt collection, including car lenders.  Further, the car loan can be included in the debt repayment plan.  If this may be an option for you contact the Fears | Nachawati Law Firm today.
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