I have some debt…. have not been employeed in nearly two years, but I am sure that I will be soon . In the meantime, I do have some debt and since Ive not been employeed & no one has hired me – I need to file a BK. I have a title loan can I include it in a BK.
Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.
I have a title loan can I include it in a BK.”
Interesting question. Ultimately the specifics of your situation would have to be reviewed by a local bankruptcy attorney. You can click here to find a local bankruptcy for a free consultation.
Generally speaking the title loan may be a lien against the collateral, in this case the car. So if you want to keep the car then you’d have to satisfy the lien. At least that’s what I always thought.
Recently I we published an article about a service that claims to be able to strip down the value of the lien in a bankruptcy and allow you to keep the car for less. Read File Bankruptcy — But Keep Your Car for Much Less Than You Owe.
I’d find that local bankruptcy attorney and tell them about this service to help you redeem the car for less than you owe on it.
Please post your responses and follow-up messages to me on this in the comments section below.
- Strategic Financial Solutions and Ryan Sasson Stumble and Get Pounded - February 13, 2024
- These Emotions Stop You From Getting Out of Debt - January 11, 2024
- 16 Common Myths About Getting Out of Debt That Everyone Gets Wrong - January 8, 2024