Considering An Auto Loan Modification Company? Just Say NO!

A new crop of ugly predators are stalking the hordes of desperate debtors looking for relief - auto loan modification companies. Taking their cues from the discredited foreclosure rescue firms who are being shut down by the dozens, auto loan modification companies are claiming that they can help vehicle owners avoid car repossession by negotiating [...]

By |2017-12-13T01:58:53+00:00August 13th, 2010|Car Loans / Title Loans|Comments Off on Considering An Auto Loan Modification Company? Just Say NO!

First Payday Loans Now Car-Title Loans Receive Increased Scrutiny

Car-title lending, where the owner of a car uses his/her car title as collateral to receive a loan, will become illegal in Wisconsin and will face new regulations in Virginia later this year.  Already, Illinois has capped car-title loans at $4,000 and has hit the industry with numerous restrictions. Car-title loans, which are shorter and [...]

By |2018-01-18T10:15:07+00:00August 5th, 2010|Car Loans / Title Loans|Comments Off on First Payday Loans Now Car-Title Loans Receive Increased Scrutiny

Should I Reaffirm My Car Loan?

Many debtors face a true dilemma when filing for bankruptcy with a car loan.  Should they or should they not reaffirm their car loan?  Well the fact of the matter is that most people need a vehicle to get to and from work so not paying their car note is just simply not an option. [...]

By |2017-12-13T01:59:21+00:00July 5th, 2010|Car Loans / Title Loans|Comments Off on Should I Reaffirm My Car Loan?

Debtor’s Luxury Vehicle Purchase Indicated Bad Faith Bankruptcy Filing

In the Chapter 7 bankruptcy case ofHageney, Keith T. and Carolyn J.; In re, the bankruptcy court ruled that a debtors' Chapter 7 bankruptcy case was probably filed in bad faith because the debtor purchased an unnecessary luxury item just 10 weeks before filing bankruptcy. The details of the bankruptcy case: The debtor-husband was a [...]

By |2018-01-18T10:12:20+00:00May 24th, 2010|Bankruptcy, Car Loans / Title Loans, Chapter 7 Bankruptcy, Managing Your Finances|Comments Off on Debtor’s Luxury Vehicle Purchase Indicated Bad Faith Bankruptcy Filing

Can I Reduce My Car Loan Interest Payments In Bankruptcy?

Car Loans and Bankruptcy If you're filing for bankruptcy, it's important to understand that car loans are treated differently in Chapter 11 bankruptcy than they are in Chapter 13 bankruptcy . If you're a high income debtor you may need to file Chapter 11 bankruptcy; but one of the benefits of Chapter 11 bankruptcy is [...]

By |2017-12-13T04:07:07+00:00May 6th, 2010|Bankruptcy, Bankruptcy Q&A, Car Loans / Title Loans, Chapter 11 Bankruptcy, Chapter 13 Bankruptcy|Comments Off on Can I Reduce My Car Loan Interest Payments In Bankruptcy?

Bankruptcy Court Denies Creditor Proof Of Claim Post-Confirmation

In the Chapter 13 bankruptcy case of Dortch, Eric D. and Dawn R.; In re, the bankruptcy court sustained the trustee's objection to a secured proof of claim that was amended after confirmation of the debtors' bankruptcy plan. The details of the bankruptcy case: In 2006, the debtors purchased a 2003 Lexus GX470. The installment [...]

By |2017-12-13T04:07:51+00:00May 4th, 2010|Bankruptcy, Car Loans / Title Loans, Chapter 13 Bankruptcy, Repossessions|Comments Off on Bankruptcy Court Denies Creditor Proof Of Claim Post-Confirmation

How Can I Keep My Car In Bankruptcy?

In most parts of the country having a car can mean the difference between being able to keep your job or becoming unemployed.  That's why it is important that debtors considering bankruptcy understand the options available to them if they want to keep their car after filing for bankruptcy. If a debtor with a car [...]

By |2017-12-13T04:08:46+00:00May 1st, 2010|Bankruptcy, Bankruptcy Q&A, Car Loans / Title Loans, Chapter 7 Bankruptcy, Loans / Mortgages, Property Exemptions, Repossessions|Comments Off on How Can I Keep My Car In Bankruptcy?

How Car Title Loans Can Wreck Your Financial Health

When debtors take out a car title loan it's usually because they feel that they have run out of options.  A car title loan allows them fast access to money for 30 days; but unfortunately at a high price.  Car title loans have interest rates that can climb as high as 25 percent per month.  [...]

By |2017-12-13T02:00:19+00:00March 1st, 2010|Car Loans / Title Loans, Debt Collectors, Loans / Mortgages|Comments Off on How Car Title Loans Can Wreck Your Financial Health

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 |2017-12-13T02:00:28+00:00April 1st, 2009|Car Loans / Title Loans|Comments Off on Delinquencies On Auto Loans Rise By 9 Percent

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 |2017-12-13T02:00:37+00:00January 26th, 2009|Car Loans / Title Loans|Comments Off on New Car Sales Plunge 13.8% In Dallas-Fort Worth