Liquidating vehicles is never pleasant. It is an adversarial process creating a lose-lose situation for the debtor and Trustee. There are auction costs, reconditioning costs and low sale values. Payment plans with debtors are no fun either! It turns the Trustee into a collector and creates many problems and headaches.
By lending money to Chapter 7 debtors for the fair market value of their cars, our trustee program results in a non-adversarial process with guaranteed, higher than auction values. It also eliminates payment plans by providing trustees with a cash value quickly.