The Benefit of Car Liens When Filing Bankruptcy
Back in 2005, the United States made a series of significant changes to bankruptcy law. Car finance companies and mortgage companies were some of the lenders that were able to make changes to their repayment process. If you had an outstanding car loan, a lien on your car may be placed which strongly encourages you to catch up on your payments otherwise your car will be repossessed. A lien is a conditional legal right to an asset or property. In the case of your vehicle, a lien can be placed…
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