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  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Car Loans And Bankrutpcy

I often get asked what happens to car loans in bankruptcy. There are a few different approaches to treating vehicles in bankruptcy.

Retain and Pay

The option to keep the car and keep making payments is our preferred option from clients. This means that you keep the car and you keep making your payments. However, this option no longer reports to your credit either positively or negatively. This is a great option if you default on your auto loan after the bankruptcy is filed as it is no longer reported as a past due loan. Additionally, if you decide to surrender the vehicle or the vehicle is repossessed after the bankruptcy, it will not be reported as such on your credit report.

Surrender the Car

If you don’t want to keep paying on the car you can surrender it with no strings attached. This is an option in both chapter 7 and chapter 13 bankruptcy. Once you give the vehicle back to the lender you will no longer be responsible for the remaining amount due.

Chapter 13 Bankruptcy Cram Down

Chapter 13 bankruptcy allows us to cram down your car loan and convert the unsecured portion of the loan into general unsecured debt. This can be huge. For example, if you have a $20,000 loan on a vehicle that’s only worth $5,000, you can cram down the loan to the car’s true value ($5,000). In that case, the $5,000 debt would be paid with a modest interest rate over the course of the Chapter 13 bankruptcy plan and the balance of the loan would be given the same treatment as your credit card debt.

For more information, it is very wise to talk to an experienced Yuba City bankruptcy attorney at (530) 797-4402.

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