Bankruptcy Required Appraisal
When Value Matters
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The valuation of any vehicle whether it is a car, truck, or motorcycle, is a significant factor to consider when you file for bankruptcy. There are several reasons that you may need to consider this option.
– If you own a vehicle that has some equity in it, meaning you owe nothing or very little, determining its precise value is very important.
– When filing Chapter 13 your auto loan creditor will want to place a higher value on your vehicle. An AAG appraisal can independently determine the value for bankruptcy purposes.
– An appraisal can also be helpful when filing Chapter 7 if you plan to redeem the vehicle by paying to remove the lien and keep the car.
Consult with your attorney to determine the best route to take in your circumstance and give AAG a call when you are ready to establish the value of your auto, truck, or motorcycle.
For What It’s Worth
Auto Appraisal Group’s Definitive Blog about the world of automobile value. View More Articles…