This post wraps up my series on how the Chapter 13 bankruptcy process can assist “sub-prime” borrowers in Nebraska. I covered a number of topics as part of this discussion. Issues I looked at included:
- How sub-prime borrowers benefit from the bankruptcy process
- How Chapter 13 can be used to “cramdown” an auto loan
- Additional benefits of one cramming down their car loan
- How bankruptcy can save a home from foreclosure
- How Chapter 13 can “strip” mortgages from a Nebraska residence
- How the Chapter 13 process can assist one with high interest rate debt
Gaining these benefits has become increasingly important for people as more and more Nebraska residents found their credit damaged after the 2008 financial collapse. If you are in a sub-prime borrowing trap, due to a low credit score, then you may need to obtain a financial fresh start. Contact our Omaha bankruptcy attorneys today to learn more about filing for Chapter 13.