Car Payment Deferred
UPDATED: Jun 10, 2009
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Car Payment Deferred
I bought a car in March 2007.I was late in payment in Dec. 08.The finance company offered to deferr a payment and put it at the end of the loan.Can I still file for Chapter 7 after my 910 days and pay the fair market value or do I have to make up the deferred payment first.
Asked on June 10, 2009 under Bankruptcy Law, Tennessee
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Just file the BK and list the car debt. however, you may lose the car if it is not paid off when you file BK. I would try to pay the car off before filing BK. If you cannot, then just file the claim and see what happens. I do not have enough information to determine whether you will qualify for BK as i do not know your financial condition, income, assets or otherwise. I suggest contacting a lawyer to advise you after you provide more information.
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