The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 forever changed the way courts handle repossessing a secured asset. Recently this new law was affirmed by the courts.<\/p>\n
Creditors have to have some guaranteed protection to ensure if someone goes bankrupt on them, that they have recourse to collect some or all of their outstanding money. Things got easier for creditors after 2005, when the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) changed how courts handle repossession of secured assets. <\/p>\n
Just recently, the Kansas Supreme Court upheld that law in Hall vs. Ford Credit Motor Credit Company Inc. No. 103370. In a nutshell, their finding indicated that a debtor \u201cmust\u201d reaffirm their vehicle if they want to keep it, even if they were keeping current on all of their car payments. <\/p>\n
Things didn\u2019t used to be that way. At one time, when a debtor filed a Chapter 7 bankruptcy and (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 forever changed the way courts handle repossessing a secured asset. Recently this new law was affirmed by the courts. Creditors have to have some guaranteed protection to ensure if someone…<\/span><\/p>\n