Foreclosure and Repossession: Catch Up Payments
The main advantage of a Ch. 13 bankruptcy is the debtor is able to catch up their car or house payments through the Ch. 13 plan. The bankruptcy plan may also Cram Down a car loan value to fair market value if the car was purchased greater than 910 days. If the car was purchased within 910 days, the debtor will need to use the contract rate.
If you have a pending repossession, there are time limits to consider when the car has been repossessed