If you are facing repossession, if you have fallen behind on your vehicle payments or are having trouble making your vehicle payments, the bankruptcy laws can help. When your bankruptcy petition is filed, the automatic stay will take effect and stop all repossession proceedings. The Law Offices of Lin & Wood will sit down with you during a Free Consultation to discuss cars in bankruptcy and how the bankruptcy laws can help your situation. Depending upon your income, expenses and assets, a Chapter 13 bankruptcy or Chapter 7 bankruptcy can help you keep your vehicles.
Chapter 7 Bankruptcy and Cars
If you are current with your vehicle payment or having trouble making your vehicle payment because of credit card debt or other debts, in most cases, a Chapter 7 Bankruptcy will allow you to keep your vehicle and Discharge your Unsecured Debt. After the Chapter 7 bankruptcy filing you will be able to afford your monthly vehicle payment and keep your vehicle.
Chapter 13 Bankruptcy and Cars
If you are behind multiple vehicle payments Chapter 13 will allow you to catch up on the missed payments and reorganize the debt in the Chapter 13 Plan. Depending upon when you purchased the vehicle, the amount owed and how much the vehicle is worth, the Chapter 13 Plan could allow you to pay less for your vehicle in the Chapter 13 plan and Discharge all or most of your Unsecured Debts.
We are bankruptcy lawyers in San Francisco with offices in Redwood City, San Francisco, San Jose, Fremont, and Oakland. We also represent clients throughout the Bay Area including Oakland, San Mateo County, Santa Clara County, Alameda County, Contra Costa County, Burlingame, Daly City, Foster City, Half Moon Bay, Millbrae, Pacifica, Redwood City, San Bruno, San Mateo bankruptcy attorneys, South San Francisco, Cupertino, Gilroy, Los Gatos, Milpitas, Mountain View, Palo Alto, Santa Clara, Sunnyvale, Concord, Danville, Martinez, Pittsburg, Pleasant Hill, Richmond, San Pablo, San Ramon, Walnut Creek, Berkeley, Dublin, Hayward, Livermore, Pleasanton, San Leandro and Union City.