NEW PROTECTION FOR DEBTORS WITH VEHICLE LOANS Recent California law changes have given all Debtors who file bankruptcy in California the option to retain and pay on their vehicle loans in a Chapter 7 bankruptcy. Prior to the changes in the law that took effect in 2023, when you filed for bankruptcy protection you had […]
Increased Protection for Your Car in Bankruptcy. Changes that went into effect at the beginning of 2023 increase the vehicle exemption amount available in California. Both Section 703.140 and Section 704.010 were amended to increase the exemptions available for motor vehicles. The amount available for vehicles was increased to $7500 under both sections. Changes to […]
Filing for bankruptcy can give you the time you need to get your vehicle back. It will give you the opportunity to examine your options for getting your repossessed vehicle back.
If your vehicle is repossessed in California you can get your vehicle back through redemption or reinstatement.
The automatic stay in bankruptcy will protect your vehicle from being repossessed. As soon as you file for bankruptcy the automatic stay goes into place and the creditor cannot repossess your vehicle.
Debts that resulted from a car accident involving drugs or alcohol may be non-dischargeable in a bankruptcy case.
A cramdown in a Chapter 13 bankruptcy can help you pay less then what you owe for your vehicle, reduce your monthly payments and interest rate.
The BAP for the 9th circuit rejected the use of the $200 car operating expense for older vehicles in calculating disposable income.
When should you reaffirm your vehicle loan in a Chapter 7 bankruptcy. What are benefits of reaffirming your vehicle and what are the drawbacks.
Information on what will happen at your Chapter 7 reaffirmation hearing. What should you expect the judge to ask you at the reaffirmation hearing.
If you are in a Chapter 13 bankruptcy and need to purchase a new vehicle, what will you need to do? Will the court allow you to purchase a new vehicle?
Under new bankruptcy court ruling, vehicle liens can be avoided if the vehicle is a tool of the trade, and the lien was created other than to purchase it.