The Problem
  • You may owe far more on your car than it is really worth. You want to keep your car, even after you have filed for bankruptcy. You need it.
  • Normally, lenders do let you keep your car, but demand and impose full payment on your current loan.

Typically, you have very few options with your vehicle in a bankruptcy:

  1. You may keep your existing car loan, and continue making your high monthly payments until your loan is paid in full.
  2. Give back your vehicle, leaving you with no means of transportation.
Very rarely are either of these your best choice.
The Solution

Working with you, your attorney and your creditor, our Redemption Program allows you to take advantage of a better choice.

Our Redemption Program allows you to keep your car by paying fair market value to the creditor – not the amount you actually owe.

This results in

  • A lower monthly payment
  • Fewer or equal payments
  • A fresh financial start with a major national bank
Sample Retail Redemption vs. Reaffirmation Savings Analysis
Reaffirmation Redemption
Value $11,590.00
Payment $498.00 $388.00*
Term 58 months 54 months
Attorney Fees $400.00
Total $28,884.00 $20,952.00
Savings: 0 $7,932.00
*Above good faith estimates are inclusive of all fees. Payments assume $400 attorney fee and may vary based on legal fees set by individual attorneys. Payments were calculated using a contract rate of 24.000%
**Please call for settlements outside pre-approved range.

If a redemption loan does not work for you for any reason, our Replacement Program can help you locate a late-model, low mileage vehicle at or near the wholesale – not retail – price. This allows you to replace your car while in bankruptcy.

Continue to the Process