310.376.9865
Sometimes it may benefit a Chapter 13 debtor to reevaluate the value of his automobile in a Chapter 13, as he may be allowed to pay back less.
At a Chapter 13 hearing today, the debtor argued the car should be valued from the Kelly Blue Book classified as Fair. The creditor argued the car should be valued at a higher value from the Kelly Blue Book if classified as Good. The Judge ruled the Code states that the car should be valued by what it would cost to replace the car. The Judge believed the evidence supported the debtor’s argument, the car could be replaced at the Fair Value Kelly Blue Book classification.
A Debt Relief Agency
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865