New California law, effective January 1, 2023, eliminates the need for bankruptcy debtors to reaffirm car loans in order to avoid repossession. Now, you can keep your car after bankruptcy, so long as you keep the payments current, without reaffirming the debt. Until now, reaffirmation had the effect of giving up the discharge as to […]
What Your Bankruptcy Lawyer Can’t Tell You
Replace your car before filing bankruptcy. That’s a secret, just between us. Bankruptcy “reform” in 2005 tried in a number of ways to discredit and gag lawyers trying to help debtors. One of those additions to the Bankruptcy Code prohibits lawyers from advising those filing bankruptcy to incur new debt. The statute makes no distinction […]
Car Crazy In Bankruptcy Court
My client wants to keep paying on his car after bankruptcy. The lender wants my client to keep paying on his car after bankruptcy. Yet it took an afternoon in court for a hearing set by the judge on approval of my client’s reaffirmation agreement with the car lender to get everyone what they wanted. What […]
