It’s a happy day, which is probably a statement you won’t hear to often from a man who just finished filing for bankruptcy, but it’s true.  I have successfully managed to stave off the dreaded repo-man with my actions.  The bank actually sent someone who took my car, but I was able to file for Chapter 13 quickly enough to get it back.  Of course most of the money I owed has been put back into the restructured payment plan, but now the payments are in increments that I can actually afford.  The bank agreed in the terms of the bankruptcy to charge me only what the car was deemed to be worth instead of what I actually had left on the loan.  Apparently this is a relatively regular occurrence, but it saved me almost three thousand dollars – this is one instance where depreciation really works in favor of the consumer.  I bought this car a little over a year ago, it was the first time in my life that I splurged and actually bought a new car, or new anything for that matter, how was I supposed to know that the plant I worked at was going to lay off thirty five employees (including me) leaving me high and dry, unable to pay my bills.  That car is my one simple pleasure, and thanks to the quick work of my bankruptcy attorney I’ll be able to keep it.