Re: Chapter 13 New provision

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Derek,

Thanks for responding but, you neglected to answer my
question! I'm well aware of the fact that a vehicle will
depreciate by 2-4K the moment it leaves the lot. That's not
what I asked. You say that children are a blessing from God,
but if you know God, then you know that the only true and
supreme judge is him, NOT you!!! I'm a grown man and I do NOT
need a lecture from you or anyone else!!! I came to this
sight to ask a legal question in which you did NOT answer. You
proceeded to give your personal opinions on myself and my
children. Mr. Derek, in the future if you decide to post a
response to someones question, please stick to the question
asked and leave your personal, judgemental opinions to
yourself!!! Have a great evening!

Reg

On 10/19/05, Derek wrote:
> The Bankruptcy Courts and the Dealerships know that cars
> devaluate tremendously and it will always be that the
> ammount you owe will be greater than the value of a car,
> think about it, if you drive a brand new car off the
> Dealership it will depreciate tremendously right there and
> then
>
> I am not judging you but...
>
> Did you thought about how you were not going to be able to
> make any more payments and to fit all your family in one car
> before your wife became pregnant?
>
> It's hard to believe that if you cannot afford to make
> payments on your car how can you afford to have so many
> children? and don't take me wrong, because children are a
> blessing from God, but at the same time they are the only
> ones that suffer your financial troubles, I hope in the near
> future you become more responsible, because your little ones
> will be the only ones that will suffer
>
>
> Derek
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> On 10/19/05, Reg wrote:
>> This is a very, very sticky situation. I have a 2004
> Chevy
>> Impala that I'm upside down on the lien by around
>> $8,000.00. My wife and I are having another child. The
>> 2004 Chevy only holds 5 people. My wife and I sit up
>> front. My daughter and my two sons sit in the back. With
>> this child that my wife is about to have will make 6 for
>> our family. My wife is not working and I am the only
>> person that works for now. Anyway, we needed another
>> vehicle that will accomadate the soon to be 6 people in
> our
>> family. We tried to trade in the Chevy in, but no one was
>> willing to take the vehicle because of what we owed vs.
>> what the vehicle is worth the difference is too much and
>> they would have to tack on the difference to the new
>> vihicle. So in essence I'd be paying around $700/ month
>> for a mediocre vehicle. So we still have the chevy as
> well
>> as the vehicle that is now going to accomadate the growing
>> family. I need to get rid of the vehicle because I can't
>> afford both vehicles by myself and I don't want it repoed
>> because I know the reprucussions. The old Chapter 13
> would
>> have been excellent for this type of situation. Under the
>> new Chapter 13 laws it states that instead of using what
>> the vehicle is actually worth and paying that back you
> have
>> to pay back the total amount of the loan even if it's way
>> more than what the vehicle is worth. Is their anything I
>> can do under the new Chapter 13 laws that would help my
>> situation? At this point, I am lost and I don't know what
>> to do. If and when they take it back should I file a
>> chapter 7 on the now unsecured amount? Once they sell it
>> at auction and get a fraction of what I owe I'm still
> going
>> to owe the remaining balace. Finally, can they garnish my
>> wages if it's repoed? Please help!!!