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CA Lawyer
CA Lawyer, Attorney
Category: Bankruptcy Law
Satisfied Customers: 1655
Experience:  Bankruptcy Attorney
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Do I have to pay 24/25% interest for car loan after filing ...

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Do I have to pay 24/25% interest for car loan after filing chapter 13? Im going to put $5000.00 on a $10000.00 car
How long ago did you purchase the car?

Are you paying for the car within the Chapter 13 plan?
Customer: replied 9 years ago.
Reply to CA Lawyer's Post: I havent purchased a car yet I dont want want to pay the %

No I am not, it was Repoed Dec 24 2007
You will probably end up paying about 24 to 25% for the car loan. The way to avoid this would be to save the money and buy the car or to borrow money from a friend or family member that wouldn't gouge you for interest.

The way to avoid it would have been to buy the car before bankruptcy and include the payments in the Chapter 13 plan. If you did that, you would have been able to cram the interest rate down to prime plus a 1 to 2% adjustment for risk.

CA Lawyer and other Bankruptcy Law Specialists are ready to help you
Customer: replied 9 years ago.
Thanks for your help