If you qualify for a Chapter 13, we can often get a repossessed vehicle back from the creditor. You will need to pay the cost of the repossession and provide proof of insurance. For example, if you currently owe $9,000 on your car and you purchased the car three years ago, your car may only be worth $6,000. A Chapter 13 would allow you to pay the value of the car, or $6,000 over a 3-year period. You could possibly reduce your car payment from $333 per month to only $166 per month and drop the interest from 21% to only 12%.
