Legal Question in Bankruptcy in Wisconsin

Reopening Bankruptcy to Reduce Vehicle Payments

Generally speaking, secured payments can sometimes be modified in a chapter 13 bankruptcy, although less so following bankruptcy reform legislation passed in Oct., 2005. The amount owed on a secured vehicle may not be altered if it was purchased less than 2.5 years before the bankruptcy filing. It may still be possible, however, to lengthen payment periods and modify finance charges. Worthwhile relief is also still possible with older vehicles where liens can still be "stripped" down to the value of the collateral for a debtor who owes more on a vehicle than it is worth. The fees for reopening a bankruptcy are nearly as high as the original filing fee and the process is complex and fraut with critical timelines and pitfalls. You should not even attempt it without legal counsel, since it may not be in your best interest. I could not begin to answer your question without knowing which chapter bankruptcy you were in.