A car title loan is a short-term loan (using your car as collateral) that's intended to be no longer than thirty days. If you don't repay the car title loan your vehicle can be seized and sold to pay off the loan. Car title loans are usually targeted at low-income individuals and come with very [...]

In the bankruptcy case of R. Barraza, the bankruptcy trustee dismissed the debtor's Chapter 7 bankruptcy because he ruled that it was abusive under the means test in section 707(b)(2)(A) of the bankruptcy code.The bankruptcy case said: "The debtor attempts to avoid the presumption of abuse by (a) taking a standard $475 ownership allowance for [...]

Often when debtors are considering bankruptcy they're worried about property that is in their name but being used and paid for by a relative or friend. Ordinarily all valuable assets would be subject to evaluation and/or possible liquidation by the bankruptcy trustee...but there are some exceptions. For example: If your granddaughter was the primary user [...]

In 2008, .86 percent of car loans were at least 60 days late, according to a Bankruptcy Consumer News report. This percentage has increased by 25 percent since 2007 and many analysts predict that the car loan delinquencies and defaults will only get worse. With a continued rise in job losses, many debtors are being [...]

In the Chapter 13 Bankruptcy case of Pruitt, Jennifer L.; In re, (Bankr. D. Conn. 2009) the bankruptcy court allowed a debtor to surrender her car to a creditor to fully satisfy a secured claim. The details of the case: Less than 910 days prior to filing for bank¬ruptcy, the Chapter 13 debtor purchased a [...]

According to an article in the Dallas Morning News new car and truck sales in the Dallas-Fort Worth area dropped 13.8 percent in 2008. Car sales nationwide were down 18 percent in 2008, so Dallas-Fort Worth actually faired better than the national average. But the nearly 14 percent drop in car sales are the worst [...]

As the economy slows an increasing number of consumers are upside down on their car loans . What that means is that they owe more than the car was worth. We haven't heard about this issue as much as upside down mortgages; but upside down car loans are becoming a real issue as consumers struggle [...]