Re: Should I file chapter 13 or chapter 7?

If you were caught up with your car payments, you could probably file chapter 7 and keep it. You would execute a "reaffirmation agreement" and keep making the payments. All your credit card debts would be discharged. This is probably your least expensive alternative, but you will probably need to pay an attorney up front.

If you can't get caught up on your car payments, you can file chapter 13 and pay for your car through a chapter 13 plan. The payments might be less than your car payments are now. This usually costs more than a chapter 7, but you usually don't have the up front costs.

If we can be of further assistance, please call us. Toll Free 877-342-8790.

Re: Should I file chapter 13 or chapter 7?

You have many options that I will be happy to discuss with you. I am located very close to your area in Vestavia Hills. Call me now for a free initial consulation. (205) 823-0894.

Joseph C. Kreps, Esq.

Re: Should I file chapter 13 or chapter 7?

It's usually not a problem to keep your car in Chapter 7 Bankruptcy. What matters is your income and your non-debt expenses. If you have enough left over to keep paying your car you shouldn't have a problem. If it's a valuable porsche on the other hand and you only owe a few payments less, than the Bankruptcy Trustee may want that.

There's also an issue with respect to other property. Do you own your own home? Or other real estate? If so, and if you have a lot of equity, than a 13 may be better.

If you would like to discuss this matter in more detail, I would be happy to talk to you.

Please give me a call at 458-1100. I am just in

Downtown Birmingham.

Sterling L. DeRamus

Attorney at Law

2015 First Avenue North

Birmingham, Alabama 35203

(205) 458-1100