WHY CHAPTER 13 MAY ALLOW YOU TO PAY OFF YOUR CAR AT A SUBSTANTIAL DISCOUNT
It is common knowledge that the value of a new vehicle depreciates by as much as 30% in the first two years. Yet, the balance on the car loan, coupled with the annual interest rate, typically drops at a much slower pace. A number of consumers have vehicles that are several years old and the value of the vehicle is much less than what is owed on the car. With Chapter 13, if you purchased the car at least 910 days ago, you may be able to pay only what the car is worth and wipe out the rest at pennies on the dollar. Also, if you have a high interest rate on your car, no matter when it was purchased, Chapter 13 may allow you to substantially lower your interest, thus saving you thousands of dollars. For more information contact us at 877-282-6190.