Car Titles Loans are Risky Business — Know Your Rights and Responsibilities

A car title loan is a short-term loan (using your car as collateral) that's intended to be no longer than thirty days. If you don't repay the car title loan your vehicle can be seized and sold to pay off the loan. Car title loans are usually targeted at low-income individuals and come with very [...]

By |2021-02-12T16:11:54-06:00July 7th, 2009|Car Loans / Title Loans|Comments Off on Car Titles Loans are Risky Business — Know Your Rights and Responsibilities

Car Deduction And 401(k) Loan Payment Deduction Not Allowed By Bankruptcy Trustee

In the bankruptcy case of R. Barraza, the bankruptcy trustee dismissed the debtor's Chapter 7 bankruptcy because he ruled that it was abusive under the means test in section 707(b)(2)(A) of the bankruptcy code.The bankruptcy case said: "The debtor attempts to avoid the presumption of abuse by (a) taking a standard $475 ownership allowance for [...]

By |2021-02-12T16:12:06-06:00June 12th, 2009|Car Loans / Title Loans|Comments Off on Car Deduction And 401(k) Loan Payment Deduction Not Allowed By Bankruptcy Trustee

My Granddaughter’s Car Is In My Name, Will They Take It In Bankruptcy?

Often when debtors are considering bankruptcy they're worried about property that is in their name but being used and paid for by a relative or friend. Ordinarily all valuable assets would be subject to evaluation and/or possible liquidation by the bankruptcy trustee...but there are some exceptions. For example: If your granddaughter was the primary user [...]

By |2021-02-12T16:12:50-06:00May 18th, 2009|Car Loans / Title Loans|Comments Off on My Granddaughter’s Car Is In My Name, Will They Take It In Bankruptcy?

Delinquencies On Auto Loans Rise By 9 Percent

In 2008, .86 percent of car loans were at least 60 days late, according to a Bankruptcy Consumer News report. This percentage has increased by 25 percent since 2007 and many analysts predict that the car loan delinquencies and defaults will only get worse. With a continued rise in job losses, many debtors are being [...]

By |2018-11-12T19:23:20-06:00April 1st, 2009|Car Loans / Title Loans|Comments Off on Delinquencies On Auto Loans Rise By 9 Percent

Surrender Your Car And Fully Satisfy Claim In Bankruptcy

In the Chapter 13 Bankruptcy case of Pruitt, Jennifer L.; In re, (Bankr. D. Conn. 2009) the bankruptcy court allowed a debtor to surrender her car to a creditor to fully satisfy a secured claim. The details of the case: Less than 910 days prior to filing for bank¬ruptcy, the Chapter 13 debtor purchased a [...]

By |2021-02-12T16:13:05-06:00March 20th, 2009|Car Loans / Title Loans|Comments Off on Surrender Your Car And Fully Satisfy Claim In Bankruptcy

New Car Sales Plunge 13.8% In Dallas-Fort Worth

According to an article in the Dallas Morning News new car and truck sales in the Dallas-Fort Worth area dropped 13.8 percent in 2008. Car sales nationwide were down 18 percent in 2008, so Dallas-Fort Worth actually faired better than the national average. But the nearly 14 percent drop in car sales are the worst [...]

By |2018-11-19T20:31:35-06:00January 26th, 2009|Car Loans / Title Loans|Comments Off on New Car Sales Plunge 13.8% In Dallas-Fort Worth

Struggling Americans – Now Car Loans Are Upside Down

As the economy slows an increasing number of consumers are upside down on their car loans . What that means is that they owe more than the car was worth. We haven't heard about this issue as much as upside down mortgages; but upside down car loans are becoming a real issue as consumers struggle [...]

By |2018-11-12T18:27:13-06:00November 3rd, 2008|Car Loans / Title Loans|Comments Off on Struggling Americans – Now Car Loans Are Upside Down
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