lower car payments, now! - 722 redemption funding · lower car payments, now! 888.721.2800...

Lower Car Payments,

NOW!

www.722redemption.com888.721.2800

redemption

replacement

creditor direct funding

trustee funding

For more information 888.721.2800 | www.722redemption.com

Welcome, and thanks for your interestin our programs!

INTRODUCTION

722 Redemption Funding, Inc. is the Nation’s original and premier redemption company. For 20 years, we have offered Chapter 7 debtors alternatives to costly vehicle reaffirmations. We are very proud to announce we have surpassed $150 Million in savings to debtors through our redemption program alone.

Inside this book, you will find an introduction to all the ways we can help your clients, including:

Ü 722 Redemption: We supply the lump sum necessary for your clients to redeem their vehicles as allowed under Sections 11 USC 722 and 506(a)(2).

Ü 722 Wholesale Replacement: Our replacement program helps your clients replace their current vehicle with a new or low-mileage car.

Ü 722 Creditor Direct: Negotiate win-win settlements directly with creditors, saving your clients’ money and guaranteeing creditors greater than auction values.

Ü 722 Trustee Funding: In the event of a non-exempt equity or unperfected lien situation, we will help your clients keep their car.

We look forward to the opportunity to serve both you and your clients. Should you have any questions, do not hesitate to contact us at any time. We will be happy to assist you in any way possible.

Sincerely,

Brad Zappin Director of Operations888-721-2800, ext. 201


it only takes one minute, andyour clients will know their options

REDEEM:Under 11 USC 722, your clients have the statutory right to redeem their

vehicle for what it is worth, not what they owe. Upon qualification, your

clients can pay the lump sum required to redeem their car and save

thousands of dollars!

REPLACE: Current car too expensive or does not qualify for a redemption? No

problem! Your clients can surrender their current vehicle and replace it

with new or low-mileage, affordable transportation.

REAFFIRM: Should your clients reaffirm? That’s between you and your clients,

but if we can’t save your clients’ money on a redemption, they will be

informed immediately.

redeem | rePLaCe | reaffirm


1) Visit www.722redemption.com.

2) Fill out our no-cost, no obligation 60 Second Application

3) We present you and your client with a free, no obligation

Savings Analysis detailing how much your client can save.

Apply In ONE Minute!

Easy as 1-2-3!

60 seCond aPPLiCation

60 Seconds can save your clients thousands AND increase your firm’s revenue!

60


60 seCond aPPLiCation redemPtion

Ü COMPETITIVE INTEREST RATES We offer the industry’s most competitive rates.

Ü UNMATCHED EXPERIENCE After 20 years of uninterrupted business and over 150 million dollars saved through our program, 722 has developed a track record no one can match. With the nation’s premier redemption company in your corner, there are never any doubts.

Ü ATTORNEY FEE FINANCING Fees associated with pursuing an Order to Redeem may be financed as part of your client’s redemption or replacement loan.

Ü RE-ESTABLISHED CREDIT Your clients can immediately begin to repair their credit.

ÜDRASTICALLY REDUCED LOAN BALANCES Redemption loans almost always reduce your client’s loan balance by several thousand dollars. And with no penalty for early payoff, debtors are in a much better position to sell, trade or payoff their loan down the road.

Ü EXPERTS WAITING TO TAKE YOUR CALL You are always just minutes away from knowing every option your client has before reaffirming on a car loan. Knowledgeable representatives are standing by to take your call.

Ü LEGAL SUPPORT 722’s legal team will support you in every way. From the most basic procedural issues to complex case developments,

722 Legal Support is prepared to help.

Ü NO COST OR OBLIGATION It costs absolutely nothing for your clients to explore their options. This allows for a more informed decision before reaffirming on a vehicle with negative equity.

ÜBACK UP PLAN Our Wholesale Replacement Program gives you the leverage you need in valuation negotiations with creditors. If unreasonable demands are made, your client can simply surrender the vehicle and replace it with more affordable transportation.

Ü PUBLISHED RETAIL VALUES 722 provides documented retail values. You can feel confident any value you receive is accurate and in compliance with 506(a)(2).

Ü MOTION PREPARATION 722 will prepare client and jurisdictional specific motions. At No Cost.

We supply the lump sum necessary for your clients to redeem their vehicles as allowed under Sections 11 USC 722 and 506(a)(2).


1) Have your client call

888-721-2800,

or apply online at

www.722redemption.com.

2) We conduct a savings analysis

to determine if a redemption

loan saves your client money.

Sample >

3) Upon loan approval, we send

you everything you need to

secure an Order to Redeem.

4) Once the Order is secured, we

process your client’s new loan

and disburse all funds, including

applicable attorney fees (see

FAQ for attorney fee guide-

lines).

5) Your client has a new loan and

begins to re-establish credit.

Redemption Process

redemPtion

Date of Valuation: June 2013Debtor(s): John Q. DoeVehicle: 2012 Chevrolet VIN #ABCDEFGHIJKLMNOPQ 21,500 MilesCurrent Creditor: ABC Bank

Retail Redemption vs.Reaffirmation/Retain-and-Pay

Savings Analysis

reaffirmation/retain-and-pay

redemption

Value:

Payment:

Term:

Total:

Savings:

-

$498.00

58

$28,884

0

$11,990.00

$388.00

54

$20,952

$7,932


Negotiate win-win settlements directly with creditors, saving your clients’ money and guaranteeing creditors greater than auction values.

Ü EASY PROCESS: We prepare all materials and handle the negotiations (at your request).

Ü ATTORNEY FEE FINANCING: Attorney fees associated with your negotiation in these contested matters may be financed as part of your client’s loan.

Ü RE-ESTABLISHED CREDIT: Your clients instantly begin to re-establish credit.

Ü WIN-WIN: Creditors get higher than auction values and debtors get a drastically reduced loan balance.

Ü FASTEST FUNDING: Upon reaching a settlement, we can often fund the creditors within 15 days.

Settlement Proposal for ABC Bank

Date: June 2009Debtor(s): John Q. DoeVehicle: 2008 Chevrolet Impala LT VIN #ABCDEFGHIJKLMNOPQ 21,453 Miles

PROBLEMchapter 7

surrender = liquidation auction Value

documented auction Value = $10,250(using recent auction sales–available upon request)

less: reconditioning $200less: depreciation $150

less: repossession $275less: auction fees $150

net recovery = $9,475

SOLUTIONchapter 7

Creditor Direct Funding

accept our retail offer$11,990

paid within 15 business days

Additional Value Recovered:$2,515!

Creditor direCt

June 2013


Our Replacement Program helps your clients replace their current vehicle with a new or low-mileage car.

rePLaCement

ÜMOST COMPETITIVE RATES With several lenders to choose from, 722 can shop for the best rate available for your client.

Ü GREAT VEHICLES Cars must be new or low-mileage and sold at deeply discounted prices. If your client cannot find a dealer willing to sell them a vehicle which passes our mandatory 50-point inspection (including background check) and reduced price requirements, we will put them in touch with one that will.

Ü QUICK, EASY PROCESS From day one of filing, your clients are never left worrying about transportation needs. In most cases, they can select a vehicle the same day they are approved.

Ü AFFORDABLE PAYMENTS Our goal is to lower your clients’ car payments.

Ü ZERO PRESSURE No face-to-face contact with car sales personnel is required. Everything can be done over the phone, and loans are closed through the mail. Additionally, other than optional extended warranties, no finance products are allowed on our loans.

Ü ATTORNEY FEE FINANCING Many replacements through our program result from an attempted redemption. Legal fees incurred pursuing a redemption may be financed as part of your client’s replacement loan.

Ü EXPERTS WAITING TO TAKE YOUR CALL You are always just minutes away from knowing every option your client has before reaffirming on a car loan. Knowledgeable representatives are standing by to take your call.

Ü NO COSTS OR OBLIGATION It costs absolutely nothing for your clients to get approved and explore what replacement vehicles are available. This allows for a more informed decision before reaffirming on an expensive vehicle.

ÜRE-ESTABLISH CREDIT Your clients can begin to rebuild their credit immediately.

ÜNO DOWN PAYMENTS While tax and title are often needed to keep monthly payments low, we do not require any money down on replacement loans.


rePLaCement

1upon approval, your client instantly begins looking for a new or low-mileage vehicle at the dealership of their choice.

2We review all paperwork submitted by the dealership to ensure all lending guidelines are met.

3 a contract is sent to the debtor, and upon execution, your client will have a new loan and begin saving money!

The process is as easy as 1-2-3…

722 is stiLL the best replacement program available to your clients. we will never

exploit your clients by financing a high retail value with extended loan terms, high down

payment requirements and expensive additional finance products they don’t need. with

our program, you can feel confident your client will not emerge from bankruptcy with

another “upside down” car loan.

With 722 Replacement, your clients will not emergefrom bankruptcy with another “upside down” car loan.


trUstee fUndinG

Problem: your clients need a lump sum payment to re-purchase their car from the trustee.

Solution: By lending money to Chapter 7 debtors for the fair market value of their cars, our

trustee funding program results in a win-win solution for debtors AND trustees.

Trustees Win: Ü no more auction costs or hassles

Ü no more debtor payment plans

Ü Higher than auction values

Ü fast funding

Ü non-adversarial process

Debtors Win:Ü retain much needed transportation

Ü no out-of-pocket costs

Ü re-establish credit

Process:Upon loan approval and a lien free title or lien release letter from the trustee, we will

execute a new contract with the debtor and issue a lump sum payment to the trustee.

In the event of a non-exempt equity or unperfected lien situation, we will help the debtor keep their car.


Who should apply?in order to ensure the highest possible approval percentage, 722 now offers multiple lending sources for your clients. while approval criteria may slightly vary from one lender to another, loan decisions are generally based upon your clients’ automobile and/or mortgage payment history. and since it only takes 1 minute to fill out our online application, why not leave the screening to us?

Remember – there is no cost or obligation to apply – so don’t hesitate to contact us with questions or concerns about client eligibility.

FAQ:

1) How are attorney fees handled? your clients may borrow additional money as part of their redemption loan to cover attorney fees incurred while pursuing the order to redeem.

a) we obtain the amount of the fee directly from your office and have absolutely no role in determining the fee. b) we disclose this fee clearly on your client’s loan contract as “attorney fee escrow account”.

c) your clients must execute and return a signed and notarized “acknowledgement and authorization for release of attorney fees from Client/attorney fee disbursal escrow account” agreement.

d) we disburse fees directly to your office on your client’s behalf.

2) How do I best explain the higher interest rate to my clients? regardless of the rate (varies by lender), redemption loans result in lower monthly payments without extending the number of payments owed. additionally, with no penalty for early payoff, the drastically reduced principal of the new loan makes the vehicle much easier to payoff, sell or trade. interest rates are a reflection of risk, and loans on depreciating, mobile assets to Chapter 7 debtors can indeed be risky–BUT–by any method of financial calculation, redemption loans SAVE YOUR CLIENT MONEY.

3) In what states do you operate?

Programs available in all 50 states.

ProGram GUideLines


722 redemption funding, inc., the company you have trusted for nearly 20 years for vehicle

redemption and replacement loans, is pleased to offer our email newsletter for Consumer

Bankruptcy attorneys, 722 Quarterly.

offers content focused on Chapter 7-related issues, such as:

Ü nationwide Chapter 7 filing list sorted by state

Ü Latest news and legislative updates

Ü Calendar of events

to sign up, simply email [email protected] and we will make sure you receive

the next edition.

Who is filing the most cases in your district?

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Nationwide Chapter 7 Filing List

722 QUarterLy testimoniaLs


“We have been using 722 Redemption Funding, Inc. since 2003. Before then, we were filing many cases under Chapter 13 just to strip down the debtor’s car. Redemption financing allows us to file cases under Chapter 7 where the client satisfaction is much higher.”

timothy Kingcade –Kingcade & garcia - miami, fl

“I’ve been using 722Redemption for years. Their attorney support is fast and complete. I just had another redemption approved and will continue to encourage my clients to take advantage of this terrific opportunity.”

Jeff mathias, des moines, ioWa BanKruptcy attorney

testimoniaLs

“722 Redemption Funding offers many Chapter 7 bankruptcy debtors a means to re-finance their over-encumbered vehicles and save thousands of dollars. In many instances, the debtors cannot afford to keep their cars without the redemption and the tremendous savings—so it makes a dramatic difference in the debtors’ lives. 722 Redemption Funding is professional, honest and very easy to work with. Our clients are fortunate to have this option, and our law firm is fortunate to be able to work with a company that is so well managed.”

steVen a. alpert – c.o.o. price laW group – encino, ca

“I have used 722 Redemption Funding, Inc. consistently for the past two years. The people have always been friendly and responsive to both the needs of my debtors and myself. On average, 722 Redemption saves my clients $3000-$5000 over the life of the loan. The greatest savings was $10,000. There is no greater feeling than being able to save your debtor money at a time in their life when there seems to be no hope.”

rachel foley – foley laW – Kansas city, mo

“…efficient, easy to work

with and very cost effective,

722 Redemption Funding,

Inc. puts money back in

our clients’ pockets. Every

bankruptcy case I file is

screened to see if 722

Redemption Funding can

save the client money.”

shaWn doan – doan, leVinson & lilJegren llp - escondido, ca


samPLe forms

722 is happy to provide you with the forms necessary to assist

your clients. Forms are available at 722redemption.com for your

convenience. Forms are password protected.

Please use “722attorney” for

both username and password.

722 REDEMPTION FUNDING

suggests the following

written retainer language:

…By agreement with the debtor(s), the (above) disclosed fee does not

include the following services:

Representation of the debtor(s) in any…contested matters involving a

Redemption under 11 U.S.C. 722.

The amount of fee agreed to be paid for such additional services

involving redemption shall be $_____________ and the source of such

Compensation to be paid shall be the post-petition earnings of

borrowing(s) of the debtor(s).

U.S. BANKRUPTCY COURT_______________ DISTRICT OF _______________

In Re: : Case No. ________________

Debtor (s) _________________________ : Chapter 7 (Judge ____________________ )

:

ORDER GRANTING REDEMPTION ANDAPPROVAL OF ASSOCIATEDFINANCING AND ATTORNEY FEES.

:Upon the motion of the Debtor (s) and there having been no responsive filing or objection within the time

required, the Court finds as follows:1. The tangible personal property described below is intended primarily for personal, family or

household use of the debtor (s): Year ___________ Make ______________ Model ______________

VIN # __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __2. The debt owing the Creditor is a dischargeable consumer debt and the Debtor (s) interest in such

property is exempt or has been abandoned by the estate.3. The value of the secured claim of the Creditor for redemption purposes, the “redemption amount” is

$______________ .

IT HEREBY ORDERED,

1. That the Debtor (s) may redeem the subject property by paying to the Creditor on or before the thirtieth

(30th) day following entry of this Order the redemption amount.

2. Reasonable attorney fees and financing are approved under the terms and conditions set forth herein.

3. Upon timely receipt of such payment, the Creditor is ordered to cancel its lien of record and surrender

the certificate of title in accord with the Debtor instruction.

4. In the event of the failure of the Creditor to so cancel its lien within three (3) days after payment of the

aforesaid lump sum pursuant to the entry of this Order, then this Order shall serve as an authorization

for the said lien to be canceled, and it is Ordered that the applicable County Clerk’s Office shall cancel

same of record.5. In the event of the failure of the Debtor (s) to pay the redemption amount within such time frame, the

automatic stay shall immediately terminate.SO ORDERED this ________ day of _________________, 20_____ . ______________________________

Bankruptcy Judge

Copies to:CreditorU.S. TrusteeChapter 7 Trustee

Suggested supplemental disclosure language

Under BR 2016(b):

U.S. Bankruptcy Court

____________________District of_____________________

<Debtor> : <Case No.>

: Supplement

Pursuant to Bankruptcy Rule 2016 (b) and 11 U.S.C. 329 (a), I certify that

I am the attorney for the above named debtor(s) and that in supplement to

the disclosure of compensation of attorney for debtor(s) heretofore filed by

me, states as follows:

1. I have been paid the sum of $________ for representation of the

debtor(s) in securing for the benefit of the debtor(s) an Order granting

the debtor(s)’ right to redeem under 11 U.S.C. 722, a certain motor

vehicle, such compensation being in addition to that previously

disclosed and being for services rendered beyond the scope of the

legal services to have been rendered for such compensation heretofore

disclosed.

2. The source of such additional compensation paid to me was from

such redemption.

3. I have not agreed to share the (above) disclosed compensation with

a person or persons who are not members or associates of my law

firm.

____________________

Attorney for Debtor

Copy to: U.S. Trustee

U.S. BANKRUPTCY COURT_______________ DISTRICT OF _______________In Re: : Case No. ________________Debtor (s) _________________________ : Chapter 7 (Judge ____________________ ) :

AGREED ORDER OF REDEMPTION :

Upon the motion of the Debtor (s) and agreement by the affected creditor signing below, the Court findsas follows:

1. The tangible personal property described below is intended primarily for personal, family or household use of the debtor (s):

Year ___________ Make ______________ Model ______________VIN # __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __

2. The debt owing the Creditor is a dischargeable consumer debt and the Debtor (s) interest in suchProperty is exempt or has been abandoned by the estate.

3. The value of the secured claim of the Creditor for redemption purposes, the “redemption amount” is$______________ .

IT HEREBY ORDERED, that the Debtor (s) may redeem the subject property by paying to the Creditoron or before the thirtieth (30th

) day following entry of this Order the redemption amount. Upon timelyreceipt of such payment, the Creditor is ordered to cancel its lien of record and surrender the certificate oftitle in accord with the Debtor instruction. In the event of the failure of the Debtor (s) to pay theredemption amount within such time frame, the automatic stay shall immediately terminate.SO ORDERED this ________ day of _________________, 20_____ .

______________________________ Bankruptcy JudgeAgreed:

__________________________Creditor or its Attorney

__________________________Attorney for Debtor (s)

Copies to:

U.S. TrusteeChapter 7 Trustee

U.S. BANKRUPTCY COURT_______________ DISTRICT OF _______________In Re: : Case No. _____________________Debtor (s) __________________________________ : Chapter 7 (Judge _______________________ )Creditor (s : MOTION FOR AUTHORITY TO REDEEM

Address ___________________________________ : PERSONAL PROPERTY AND APPROVAL

___________________________________ OF ASSOCIATED FINANCING AND ___________________________________ : ATTORNEY FEES UNDER 11 U.S.C. 722Now come (s) the Debtor (s) by and through counsel, and moves the court pursuant to 11 U.S.C. 722 and

Bankruptcy Rule 6008 for a Redemption Order on the following grounds:1. The item to be redeemed is tangible personal property intended primarily for personal, family or household use

is more particularly described as follows:

Year _________ Make ________________ Model____________________VIN # __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __

2. The interest of the Debtor (s) in such property is exempt or has been abandoned by the estate and the debt(which is secured by said property to the extent of the allowed secured claim of the Creditor) is a dischargeable

consumer debt.

3. The allowed secured claim of said Creditor for purposes of redemption, the “redemption value”, should bedetermined to be not more than $____________ as evidenced by the attached written appraisal.4. Arrangements have been made by the Debtor (s) to pay to the said Creditor up to the aforesaid amount in alump sum should this motion be granted.

5. The payment for this proposed redemption is to be financed through U.S. Bank N.A., with all of theparticulars of that financing (interest rate, finance charge, amount financed, total of payments, amount ofpayments, etc.) set forth in full detail in the attachment(s) hereto. As demonstrated there, the monthly amount,term of the payments and the overall amount of the repayment will be decreased significantly through theproposed redemption. Moreover, the Debtor has agreed to borrow and disperse additional funds in the amountof $__________, from their loan with U.S. Bank N.A., for representation of the debtor(s) in securing for thebenefit of the debtor(s) an order granting the debtor(s) the right to redeem under 11 U.S.C. 722 a certain motorvehicle, such compensation being in addition to that previously disclosed and being for services renderedbeyond the scope of the legal services to have been rendered for such compensation heretofore disclosed.WHEREFORE, the Debtor (s) request (s) the Court to order the said Creditor to accept from the Debtor (s) the

lump sum payment of the redemption value and release their lien of record. In the event the said Creditor objects to

this motion, the Debtor (s) requests the Court to determine the value of the property as of the time of the hearing on

such objection. __________________________________ Attorney for Debtor (s)

NOTICENotice is hereby given that unless an objection is made to this motion within 21 days following the date of service

below, an order sustaining the motion may be granted by the Court.

CERTIFICATE OF SERVICEI hereby certify that the foregoing has been served upon: the Creditor’s above noted, the U.S. Trustee, and theChapter 7 Trustee by mailing a copy hereof by first class U.S. Mail on this _______ day of _________________,

20_____.

__________________________________ Attorney for Debtor (s)


deBtor HandoUts

for a free supply of handouts,call 888.721.2800 or email [email protected]

OR

REDEEM REPLACE

www.722redemption.com | 888.721.2800

OR

REDEEM REPLACEWhat abOut

My CAR?in a chapter 7

bankRuptcy

you hAvE Rights!

keep yOuR caR and

pay Only What it’s

WORth, Not What

yOu OWe!

Replace yOuR

expensive, high

mileage caR!

LoWER

CAR

PAyMENts,

NoW!

www.722redemption.com | 888.721.2800

Why thE PRoCEssabsolutely no costor obligation toexplore all options

lower monthly car paymentsRe-establish credit

Owe only what your car is worthOur experience.Over $250 million alreadyloaned through our vehiclereplacement andredemption programs

1.apply online:www.722redemption.comOr call: 1-888-278-6121

2.We aggressively exploreall your options

3.You decide which optionis best for you

www.722redemption.com888.721.2800

722 redemption funding, inc. is not a law firm and does not represent or give legal advice to Bankruptcy attorneys or their clients. no at-torney–client relationship is intended or implied – we represent the lender, you (debtor’s attorney) represent the borrower. figures and calculations are for illustrative purposes only. all conditions and terms are subject to change at the discretion of 722 redemp-tion funding, inc.

lower car payments, now! - 722 redemption funding · lower car payments, now! 888.721.2800...

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