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A reaffirmation settlement will allow a bankruptcy filer to keep their car by protecting against the car loan from getting discharged. They exist, in large part, to protect banks and credit unions following a Chapter seven bankruptcy. Here are a few specifics about the entire process of reaffirming a car loan.Chapter thirteen enables you to make up
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When the reaffirmation settlement is approved with the bankruptcy courtroom, the reaffirmed financial debt is excluded from your discharge and you've got to pay for it off regardless of what. In case you don’t shell out the loan off, the vehicle lender can repossess the vehicle and even begin a wage garnishment to collect the loan equilibrium.Whi
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