If you intend to redeem your car with cash, can you still list the current payment for it on schedule J? I assume that you would list it on schedule J until the redemption actually happens. I would like to redeem one of my cars but do not want to lose the expense and be forced into a 13. Anyone have any experience with this?
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Chapter 13 Filed (Pro Se) - 9/30/09
Confirmation Date - 12/1/09
Stats - $1752/month, 29/36 completed, 4% to Unsecured, Lien Stripped 2nd Mortgage -
I'm trying to start a movement to get people to not use redemption loans because the interest is insane. Give the car(s) back and just replace it. Stick it to the bank and start fresh.Originally posted by UpsideDownMI View Post -
I want to redeem my car with "cash", not with a loan. Will this impact my schedule J as I would lose my car payment. I am thinking the car payment would still go on schedule J as it could take some time to pull off the redemption.Chapter 13 Filed (Pro Se) - 9/30/09
Confirmation Date - 12/1/09
Stats - $1752/month, 29/36 completed, 4% to Unsecured, Lien Stripped 2nd MortgageComment
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