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Azazel35

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Want file chapter 13, have new car thats 724 a mth help
Me and wife both have bad credit, Most of this bad credit is from our younger years. a lot of the stuff I owed has moved over to my public record. I got us a new car that is on 18% interest. payment 724$ a mth. Only had it 2 months, then lost our job. It took us two weeks to land a good job and I used my 1 time due date move up on the payment. But were still going be struggling. Just with my house, car and insurance is 1600.00. So now we want file bankruptcy. Will we get to keep the new car if we file bankruptcy with a lower payment? Should we do chapter 7 or 13. We don't really own anything other then tvs ipad computers. I have 1995 pickup. We also have a small business. how will this be affected?

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Chapter 13 will allow you to keep everyting and put you on an affordable monthly payment plan.... Chapter 7 wipes out all debt but you may have to give up some of your items. I don't know the pros and cons of filing while you have a small business though. It would be best to just contact a Bk lawyer to find out which one will work best in your situation. Good luck my friend.

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