If you file a proposal or bankruptcy and you stop paying for [and return] that vehicle before you file, then you can include
the debt as a regular credit card debt in your filing.
Not exact matches
Consider your family's current income, assets (such
as savings, investments, and property),
regular expenses and
debts (such ascar loans, mortgage,
credit cards).
Unsecured
credit cards are «
regular»
credit cards that don't require you to deposit any cash with the bank
as collateral against unpaid
debt: you're allowed to make purchases up to your
credit limit, and can pay for your purchases over time — although you'll typically pay high interest rates on any purchases you don't pay off in full each month.
Chapter 13 also is only available to debtors with
regular income and subject to
debt limitations — which,
as of April 2016, were no more than $ 394,725 in unsecured
debt (
debt not backed by collateral, such
as credit card debt) and $ 1,184,200 in secured
debt (like mortgages and car loans).
If you're not already making payments on a short - term loan, putting your
regular expenses such
as groceries and gas on a
credit card helps you establish
credit without going into
debt.
If you file a proposal or bankruptcy and you stop paying for that vehicle before you file, then you can include the
debt as like a
regular credit card debt in your filing.
Because your
debt won't incur interest for well over a year or two, you can make only the minimum payments without racking up interest charges,
as you would when carrying a balance on a
regular credit card.
You pay off your
credit card in full each month, and you make
regular payments on other
debt such
as student loans and vehicle loans.
If your
credit report shows that you make
regular payments in a timely fashion and pay down
as much
debt as you can afford each month,
card companies will be encouraged to reward you.
The MDCL operates on the same premise
as a
regular debt consolidation loan: take out one loan to pay off all unsecured
debts, such
as credit cards, medical bills, payday loans, etc. and make a single payment to one lender rather than multiple loan repayments to multiple creditors.
Consider your family's current income, assets (such
as savings, investments, and property),
regular expenses and
debts (such ascar loans, mortgage,
credit cards).