WHAT IS A REDEMPTION?
Under 11 U.S. Code § 722, your clients have the statutory right to redeem their vehicles for what they are worth, NOT what they owe.
CURRENT LOAN
REDEMPTION LOAN
Length of Loan
64
60
Monthly Payment
$489.00
$359.53
Total
$31,296.00
$21,571.80
TOTAL SAVINGS
$9,724.20
Re-Establish Credit
Attorney Fee Financing
No Cost or Obligation
Avoid Dealer Markups
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
You may keep your existing car loan, and continue making your high monthly payments until your loan is paid in full.
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!
722 Redemption Funding Inc.
Monday - Friday: 8:00 AM - 7:00 PM EST
Saturday: 9:00 AM - 2:00 PM EST
Sunday: Closed
(888) 721-2800
