- Jurisdiction
- Illinois
Hey,
Looking to possible file Chapter 7 in the next couple months.
I live in IL.
I currently rent. So no house to worry about.
My main question is if I should keep the car I just bought about 4 months ago or let it go in the bankruptcy.
The car has balance of $14K and about 67 months left of payments.
It is a 2012 Hyundai Accent with 23K miles.
I looked up the Kelly Blue Book value for trade in just to get an idea what it is worth now according to them for a dealership trade-in and it said in excellent condition (Which its in) it would be worth around $8K.
So I am already down $6K in value. After 4 months.
I am paying a high interest rate of 23.5% based on my poor credit and low $500 down payment.
So would you suggest I include this in my Chapter 7 or would lenders even possible let me refinance after all the rest of my debt is discharged to a lower rate?
Do you think they would consider a refinance or a possible trade in given the fact they know I wouldn't be able to possible file again for another 8 years?
The payment is high for me but I need to be able to drive.
I just dont want to be stuck with a car that has already lost a lot of value in a short time frame with no possible refinance, if I could add it to the bankruptcy.
Thanks for any help.
Hello,
I owe a lot of money to a lot of source and will need to file chapter 7 soon.
I live in IL and have all the debts in the same state I am about to list.
I have been taken to court in the past for an eviction from an apartment and ended up owing 3K when it was all said and done.
I had 2 other apartment complex's I owed money after I left, but not evicted from.
About 1K to $1500 for another. (Skipped out on last month, cleaning charges ect.)
I know it will show up on my credit report after if its discharged or not.
My question do you believe the dollar amount will be discharged from these 3 apartment complexes.
My main concern in the one I was evicted from. If this debt will be discharged.
I have a place now, that I had to place a lot of money down to get into for all the reasons able, and dont intend on moving for at-least 2 to 3 years.
I have already tried to work with the complexes on a payment plan but I couldn't afford their terms.
Thanks for any advice!
Looking to possible file Chapter 7 in the next couple months.
I live in IL.
I currently rent. So no house to worry about.
My main question is if I should keep the car I just bought about 4 months ago or let it go in the bankruptcy.
The car has balance of $14K and about 67 months left of payments.
It is a 2012 Hyundai Accent with 23K miles.
I looked up the Kelly Blue Book value for trade in just to get an idea what it is worth now according to them for a dealership trade-in and it said in excellent condition (Which its in) it would be worth around $8K.
So I am already down $6K in value. After 4 months.
I am paying a high interest rate of 23.5% based on my poor credit and low $500 down payment.
So would you suggest I include this in my Chapter 7 or would lenders even possible let me refinance after all the rest of my debt is discharged to a lower rate?
Do you think they would consider a refinance or a possible trade in given the fact they know I wouldn't be able to possible file again for another 8 years?
The payment is high for me but I need to be able to drive.
I just dont want to be stuck with a car that has already lost a lot of value in a short time frame with no possible refinance, if I could add it to the bankruptcy.
Thanks for any help.
Hello,
I owe a lot of money to a lot of source and will need to file chapter 7 soon.
I live in IL and have all the debts in the same state I am about to list.
I have been taken to court in the past for an eviction from an apartment and ended up owing 3K when it was all said and done.
I had 2 other apartment complex's I owed money after I left, but not evicted from.
About 1K to $1500 for another. (Skipped out on last month, cleaning charges ect.)
I know it will show up on my credit report after if its discharged or not.
My question do you believe the dollar amount will be discharged from these 3 apartment complexes.
My main concern in the one I was evicted from. If this debt will be discharged.
I have a place now, that I had to place a lot of money down to get into for all the reasons able, and dont intend on moving for at-least 2 to 3 years.
I have already tried to work with the complexes on a payment plan but I couldn't afford their terms.
Thanks for any advice!