Sacramento Bankruptcy: How can Auto Lien Stripping Benefit you after a Bankruptcy Filing?

Under old bankruptcy law, a Chapter 13 filing would allow you to choose to “strip down” the auto lien on your vehicle.  Stripping down an auto lien is defined as reducing the amount of debt owed on a vehicle so that car payments are reduced to the value of the car and so that the interest rate was reduced.

New law considers a car a secured debut under Chapter 13.  Secured debts are those where the creditor can repossess your property because it is collateral.  Homes and vehicles are the most common types of secured debt.  If you do not pay a secured debt, the lender can repossess the vehicle or home as collateral.

Bankruptcy reform has severely limited auto lien stripping.  If the vehicle was purchased 2 ½ years (910 days) before the filing, then you can reduce the principal and interest rate.  Sagaria Law can help you understand these issues with single phone call to our Sacramento office to set your consultation.

Attorney Consultation!! $99 Retainer Fee!! Free Bankruptcy Evaluation
Motivation Bills Assets Budget
The law varies from state-to-state — please provide your zip code!

Why are you considering bankruptcy? (select all that apply)









Motivation Bills Assets Budget

What bills do you have? (select all that apply)








Motivation Bills Assets Budget
Do you own real estate ?
If Yes , are you behind in these payments?


Do you own an automobile ?
If Yes , are you behind in these payments?


Do you have any additional assets worth more than $1000.00?
Motivation Bills Assets Budget

What types of income do you have? (select all that apply)






$
Contact Info Your Evaluation

Call For A Consultation

toll free: 1-866-447-8460