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YOUR
CLIENT'S OLD LOAN
Payoff: $17,000
Fair Market Value: $10,000
Remaining Payments: 48 (at 12%)
Payment: $448
Sum of Payments: $21,500
THE NEW REDEMPTION LOAN
Payoff: $17,000
Redemption Loan: $10,000 (court-ordered fair market value,
paid by BKAutos to the old creditor)
Difference: $7,000 (discharged in the bankruptcy)
Term: 48
Payment: $310*
Savings:
$138 monthly, or $6,600 over the life of the loan
Your client may choose to borrow an
additional amount (up to $600) from the proceeds of the
loan, directing and authorizing that those funds be disbursed
to you for your additional work done on his behalf in order
to secure the redemption.
*Assumes APR of 21%
For the greatest savings and the highest
standard of care, help your clients to get
the best redemption loan:
a
BKAutos redemption loan.
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