When a Cram-Down Is Not an Option: Giving Up a Car in Chapter 13
For New York bankruptcy debtors, owning a car magnifies the importance of the decision to file in chapter 7 versus chapter 13. In chapter 7, debtors must choose if they will surrender or redeem their vehicles, or if they will reaffirm or simply keep paying their auto loans. Chapter 13 debtors can expect their auto …
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