Lenders Must Determine Upfront If Consumers Have the Ability to Repay Loans
October 5, 2017
The Consumer Financial Protection Bureau (CFPB) has developed a new rule which has common-sense protections cover loans that require consumers to repay all or most of the debt at once, including payday loans, auto title loans, deposit advance products, and longer-term loans with balloon payments.

If your car debt situation isn’t working for you, bankruptcy can provide you with opportunities to do some pretty great things to improve your situation. Under the bankruptcy code, interest rates and monthly car payments can often be lowered. Under some circumstances, the amount that you now owe on the car can be reduced as well. Plus if you are behind on a car loan, bankruptcy can make your vehicle safe and remove the need for you to come up with a ton of money to catch up. This is great news for many Oregonians because more and more, car debts have become a real problem.

If you are behind on your mortgage, you can use Chapter 13 to stop a pending foreclosure and repay missed payments over the 5 year term of your Chapter 13 plan. However, filing your Chapter 13 case is only the first step in saving your home.

If you are behind on your mortgage, you can use Chapter 13 to stop a pending foreclosure and repay missed payments over the 5 year term of your Chapter 13 plan. However, filing your Chapter 13 case is only the first step in saving your home.