Can I include my title loan on my bankruptcy 7 and I still keep my car? 12 Answers as of May 29, 2015

The value of the original loan was $2610.

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Stephens Gourley & Bywater | David A. Stephens
Yes, but you may have to litigate whether you have to pay it.
Answer Applies to: Nevada
Replied: 5/29/2015
Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
First of all, you are legally obligated to list all your debts and claims (and property) on the bankruptcy papers. Depending on the State in which the vehicle is registered, and the State where you live, the title-creditor may or may not have a lien which is valid in bankruptcy. If it is, then you'll have to make some arrangement to pay the creditor in order to retain the car. Consult a good bankruptcy lawyer. It's almost always worth it.
Answer Applies to: Wisconsin
Replied: 5/28/2015
GARCIA & GONZALES, P.C. | Richard N. Gonzales
You have to pay the lienholder to keep the car.
Answer Applies to: Colorado
Replied: 5/28/2015
Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
No. The loan is secured by the title to your car. You must either surrender the car or pay the loan.
Answer Applies to: Colorado
Replied: 5/28/2015
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
It's a lien on your vehicle so they still can repo the vehicle although you will not be personally liable for that debt any longer if you file bankruptcy.
Answer Applies to: New York
Replied: 5/27/2015
    Ronald K. Nims LLC | Ronald K. Nims
    Title loans can be complex - although it's called a title loan, some companies don't bother to get the lien recorded on your car. Then you need the trustee to avoid the lien. You must negotiate with the trustee for the cost of this (if the cost is less than the amount of the loan, you're better off) If the some did get the lien recorded, then you need to pay off the lien to get the car.
    Answer Applies to: Ohio
    Replied: 5/27/2015
    The Law Office of M Grater LLC
    The Law Office of M Grater LLC | Mark O. Grater
    If you want to keep the car and there is still a secured loan on it, you must continue to pay on the loan to keep it. If you want to surrender the car, the loan goes away in bankruptcy.
    Answer Applies to: Connecticut
    Replied: 5/27/2015
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    You must include all debt in your bankruptcy. To keep your car, you will need to pay off the title loan at some point.
    Answer Applies to: Nevada
    Replied: 5/27/2015
    Benson Law Firm
    Benson Law Firm | David Benson
    You must include the title loan in your Chapter 7 and then decide whether you want to: 1. Reaffirm the debt (if the secured interest is valid, which it may not be); 2. Redeem the car (by taking out a replacement loan); or 3. Surrender the vehicle. You'll probably need a lawyer to help you with this.
    Answer Applies to: Ohio
    Replied: 5/27/2015
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    You must list it, but the title loan will survive the bankruptcy because it is a lien on the vehicle. The only way you can alter the terms of this loan is in Chapter 13.
    Answer Applies to: California
    Replied: 5/27/2015
    Garner Law Office
    Garner Law Office | Daniel Garner
    You have to list all debts regardless of your intentions of paying them or not paying them. If the lender's security is "perfected" under the laws of your state governing secured transactions, then the lender can force you either to reaffirm the debt or lose your car. In most cases, you would have no problem keeping your car.
    Answer Applies to: Oregon
    Replied: 5/27/2015
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