practical effect of subprime car loan in Ch. 13.
Posted: Mon Jul 28, 2014 2:08 pm
Debtor has a 27% interest car loan. She bought the car within 910 days of filing the case. What is the benefit to her of paying the car in theplan and reducing the interest rate and thuspaying her unsecured creditors more,say 50%, when if the case later gets dismissed for failure to make plan payments, she will immediately be behind on her car payments, whereas if she pays the car directly out of the planpresumablyshe would be current ifshe keeps making the car payment?
Pat Said.
Patricia Said
Attorney at Law
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Sherman Oaks, CA 91401
(818)789-0781 fax (818)789-5820
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