Need EXPERT advice please-time sensitive

This is a discussion on Need EXPERT advice please-time sensitive within the Consumer Bankruptcy forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; My husband and I are considering filing Chapter 13 in North Carolina. I have the opportunity to trade in my ...

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Old Jan 26th, 2008, 07:39 AM   #1
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Question Need EXPERT advice please-time sensitive

My husband and I are considering filing Chapter 13 in North Carolina. I have the opportunity to trade in my car and purchase a new one before we file. I know this will be the last chance to do so for a long time. Are there any laws about how much a couple can be paying for car payments when filing for bankruptcy? I would like to do this but this car payment would be $800.00/mth. due to interest rates; however, I have heard in bankruptcy often interest rates are reduced on car loans. Is this correct? I just don't want to do this and then be told in court I have to sell or for this to keep us from being able to file. Please help asap! Thanks so much!
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Old Jan 28th, 2008, 07:46 PM   #2
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