Whittaker, MI Bankruptcy Law Firms & Lawyers

See an attorney now. Without details it is impossible to provide valid additional advice. If you are in or this pertains to Michigan, you are welcome to call and retain Musilli Brennan Associates with details. Good luck!

It would have been helpful if you had indicated whether you purchased the vehicle before or after you filed Chapter 13. You cannot lawfully finance the purchase of a vehicle while in Chapter 13 without court permission.

It may be possible to arrange settlement with your creditors directly, often for half the amount owed, or even less - depending on how old the debt is, whether the creditor believes it can successfully collect, etc. Most of the time, any settlement must be for cash, rather than payments. If you want to settle directly, you may want to contact all of the creditors and make sure they all agree before settling with just one or two of them. (this is assuming that none of these debts has gone past the statute of limitations, which is another factor to consider). Bankruptcy, particularly Chapter 13, if you're eligible, has the advantage of not requiring the creditors' cooperation or agreement. That puts you in the driver's seat, and it's no worse for your credit score than settling with the creditors. You should talk to an experienced bankruptcy attorney before deciding which option is best for you.