Legal Question in Bankruptcy in California

bluebook value on car versus full amount

As a creditor, if my car balance amount is excessively more than the bluebook value, how may I achieve a satisfactory discharge of this debt?


Asked on 2/07/02, 3:06 pm

1 Answer from Attorneys
Victor Hobbs Victor E. Hobbs

Re: bluebook value on car versus full amount

Because cars are financed under the interest rule that packs the interest in the beginning of the loan this situation is common. You give them back the car and the debt is dismissed in the bankruptcy. If you want to reaffirm the car, and continue to make payments that's alright also. Some financing companies on cars will allow you to continue making payments with reaffirming the debt.

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Answered on 2/07/02, 3:37 pm


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