Auto In Bankruptcy

Saving your car from a finance and lease company in a chapter 13 case. A New Jersey chapter 13 bankruptcy case may save an auto from repossession and/or obtain possession, of a repossessed auto, if the auto has not been sold at auction. Initially, the debtor must provide proof of adequate auto … [Read more...] about Saving An Auto Through A New Jersey Bankruptcy Case

Attorney explains the difference between auto finance and auto lease payments in a New Jersey chapter 13 case. There are three different approaches to paying auto financing in a New Jersey chapter 13 case. The fist approach is to continue to make the regular finance payments directly to the auto … [Read more...] about Difference Of Paying Auto Financing And Auto Lease In A New Jersey Chapter 13

New Jersey Lawyer Explains When A Person May Keep An Additional Car In A Chapter 7. Typically, a chapter 7 trustee will only sell an asset, such as a car, that is unexempt. Another part of this website explains the bankruptcy code exemptions in detail. The bankruptcy code allows a debtor a fresh … [Read more...] about Can I Keep An Additional Car In A New Jersey Chapter 7 case?

New Jersey Lawyer Explains When a Debtor May Keep An Additional Financed Vehicle In A Chapter 13 The debtor is required to pay all of their household disposable income to the trustee, each month. The funds that are required to be paid to the trustee is the net household income after payment of all … [Read more...] about Can I keep An Additional Vehicle In A New Jersey Chapter 13?

Lawyer In New Jersey Explains The Limitations Of Reducing Auto Finance Payments In New Jersey Bankruptcy Case. A debtor is permitted to reduce the amount that is required to be paid on auto financing in New Jersey, under specific circumstances. The bankruptcy states that a person is permitted to … [Read more...] about Exceptions To Reducing Auto Financing In A New Jersey Bankruptcy Case.

New Jersey Lawyer Explains How Someone Can Reduce Auto Payments In New Jersey Bankruptcy Case. In a New Jersey chapter 13, a debtor may be able to keep their auto by paying less than the total amount that is due on the auto financing. This process is called a cramdown. Under certain circumstances, a … [Read more...] about How Can I Keep A Car and Pay Less In A New Jersey bankruptcy?