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Trailer Loan

Every couple of weeks I see a family that is crippled by a loan on a trailer. Mobile home loans are known for being high-interest. Also, mobile homes, much like cars, depreciate quickly the second they come off the lot. People are often left with a loan that is two or three times the value of their mobile home. Adding insult to injury, the interest rates on these loans are stupefying.

Many of the culprits are common- Vanderbilt Mortgage, Ocwen Financial, and Greentree Funding are some of the frequent flyers. However, some buy-here pay-here financiers are the worst.

Bankruptcy gives me lots of options. First, I can get rid of the personal obligation to pay debt. That means even if the trailer is repo’ed, they can’t garnish the wages of the borrower. In a most chapter 13 cases, I can lower interest rates and lessen the amount that has to be repaid. A lot of times I can pay off credit cards and cars for the amount of the trailer payment alone.

If you have a trailer payment you can’t afford, call me. Chances are, I can help.

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The attorneys of Wantland Law in Shepherdsville, Kentucky, advise and represent individuals and families in bankruptcy cases and debtor-creditor negotiations in Bullitt County, Nelson County, Spencer County, Hardin County, Okolona, Jefferson County, Louisville, and such communities as Mount Washington, Brooks, Lebanon Junction, Bardstown, Taylorsville, Elizabethtown, Radcliff and Fort Knox.

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