Do include my car loan in my bankruptcy? 3 Answers as of August 22, 2010

If I just bought and started making payments on a car, do I include it in my bankruptcy petition?

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Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
Yes, you have to list it. You can still keep the car and make payments on it.
Answer Applies to: California
Replied: 8/22/2010
Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
You must list all of your debts in your bankruptcy schedules. If you want to keep your car, keep making the monthly payments, say in your Statement of Intention that you want to reaffirm the debt, and then enter into a written reaffirmation agreement with the lender. For specific advice about your matter, please call me.
Answer Applies to: California
Replied: 8/21/2010
Ariano & Reppucci
Ariano & Reppucci | Chris Ariano
If you want to keep the car, you would need to reaffirm the debt. You would sign a contract after filing very similar to the original loan contract. As long as you are current on the car payments and car equity is not above the exemption amount ($5,000), you should have no problems keeping your vehicle. If you wish to discuss further, please contact us.
Answer Applies to: Arizona
Replied: 8/20/2010
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