Filing Chapter 13 can lower your car payment!
Learn more about how Chapter 13 Bankruptcy can help you.
Are you stuck in a bad car deal? Is your interest rate over 15%…over 20%? Most people don’t realize how much the interest rate effects your monthly payment. If you have a high interest rate, then I know your car payment is too high as well. It doesn’t have to be that way. You can keep your car and reduce your payment by filing Chapter 13.
The Bankruptcy laws allow you to lower the interest rate on your car. Currently, you can reduce your interest rate to 5.25%. This means that your monthly car payment will be reduced too. You don’t have to be stuck with a car payment that you can’t afford. Jason Bauman is an experienced Louisville Bankruptcy Lawyer who can help you lower your car payment.
In addition to lowering your interest rate, if you’ve had your car for over 2.5 years, you can even reduce the balance owed on it! This means that you don’t have to pay your entire balance in full in order to pay off your car through Chapter 13. This rule helps tremendously if you owe a lot more on your car compared to what it’s actually worth.
If you are starting to get behind on your car payments because the payment is simply too high, please call me! I can help you keep your car and get your monthly payment lowered. We have 2 convenient office locations in Louisville. Call us today or click on the link above to schedule a phone call with Jason.