I owe $13,000 on my car if I file bankruptcy what happens to the car? Do I get to keep it, or does it get repo'd? 23 Answers as of September 09, 2013

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Colorado Legal Solutions
Colorado Legal Solutions | Stephen Harkess
If you don't pay the debt, then one way or another it will go back to the bank. You don't get a free car in bankruptcy.
Answer Applies to: Colorado
Replied: 9/9/2013
Law Office of D.L. Drain, P.A.
Law Office of D.L. Drain, P.A. | Diane L. Drain
It depends on the exemption law of the state where you live. Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
Answer Applies to: Arizona
Replied: 7/25/2013
Rhymer Law Firm
Rhymer Law Firm | William Rhymer
If you file a Chapter 7, you would have to reaffirm and keep the car debt and pay it if you want to keep the car. You could let the creditor have the car back and wipe out the debt. But if you want to keep the car you would have to pay for it.
Answer Applies to: Georgia
Replied: 7/25/2013
Law Office of Thomas C. Phipps | Thomas C Phipps
You can keep it you have less than $3,000 of equity in it. You can give it back and no have to pay the loan off.
Answer Applies to: Missouri
Replied: 7/25/2013
Law Office of Robert Sisson | Robert Sisson
All depends if you want to keep it. If you can afford it and you want to keep it, then you can reaffirm on it.
Answer Applies to: Wisconsin
Replied: 7/25/2013
    Law Offices of David A. Tilem | Michael Avanesian
    It depends on what you want to happen, your current circumstances and the type of bankruptcy that you file.
    Answer Applies to: California
    Replied: 7/25/2013
    Stuart P Gelberg
    Stuart P Gelberg | Stuart P Gelberg
    If you reaffirm and/or keep paying you will not be subject to a repossession.
    Answer Applies to: New York
    Replied: 7/25/2013
    Mark S Cherry, Attorney at Law, PC
    Mark S Cherry, Attorney at Law, PC | Mark Cherry
    A car loan is a secured debt. In a bankruptcy, you have a decision to keep the car and reaffirm the loan or surrender the car and discharge the loan. There are time deadlines and the creditor should submit reaffirmation agreements to you.
    Answer Applies to: New Jersey
    Replied: 7/25/2013
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    As long as you pay for it, you can keep it.
    Answer Applies to: California
    Replied: 7/25/2013
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    You will most likely keep it, as long as you continue to make the payments.
    Answer Applies to: California
    Replied: 7/25/2013
    Elliott Law Firm, PC | Michael K. Elliott
    If you want to keep the car, then assuming there is no non-exempt equity, you would continue to make payments just as you have been. If you don't want to keep the car, then you can surrender it back to the creditor, and have no further obligation for the debt.
    Answer Applies to: North Carolina
    Replied: 7/25/2013
    Philip R. Boardman, Attorney at Law
    Philip R. Boardman, Attorney at Law | Phil Boardman
    You can keep it as long as you are willing to continue to pay for it.
    Answer Applies to: Virginia
    Replied: 7/25/2013
    The Law Offices of Deborah Ann Stencel | Deborah A. Stencel
    The answer depends on a number of factors which include, but are not limited to, which chapter you file, the value of the car, the balance of the loan, whether you are current on the payments, what you want to happen, and whether you can afford the car. Please either provide more information or see an attorney!
    Answer Applies to: Wisconsin
    Replied: 7/25/2013
    Reger Rizzo & Darnall LLP | Kathleen DeLacy
    If you pay it they cannot repo it.
    Answer Applies to: Delaware
    Replied: 7/25/2013
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    They will generally take the car but you will no longer owe the money.
    Answer Applies to: New York
    Replied: 7/25/2013
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Well, it is sort of up to you. If you want, you may return the car and owe nothing, or you may sign a reaffirmation agreement and continue to keep current and retain the vehicle.
    Answer Applies to: Nevada
    Replied: 7/25/2013
    Stittleburg Law Office
    Stittleburg Law Office | Bernd Stittleburg
    Depends on which type of bankruptcy case you file and what your intentions are regarding the vehicle.
    Answer Applies to: Georgia
    Replied: 7/25/2013
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    If you keep paying loan payments you probably keep the car, but it will depend upon whether and how much equity there is in the vehicle. If you stop making loan payments the car will be repossessed.
    Answer Applies to: Colorado
    Replied: 7/25/2013
    Law Offices of Patrick Edaburn | Patrick Edaburn
    If you do not pay for the car you do not get to keep it. You can arrange a payment deal with the lender but bankruptcy will not let you keep the car for free.
    Answer Applies to: California
    Replied: 7/25/2013
    Danville Law Group | Scott Jordan
    It depends on what you want to do with it. If you want to keep it, you need to continue making your payments and perhaps sign a reaffirmation agreement with the bank. If you want to surrender it, you can do without additional repercussion.
    Answer Applies to: California
    Replied: 7/25/2013
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    That depends on what you want to do with it. If you want to keep it, you can file a reaffirmation and continuing making payment (if in a Chapter 7) or if in a Chapter 13 you can pay it through your plan and you must remain current on the payments going forward.
    Answer Applies to: New Jersey
    Replied: 7/25/2013
    Idaho Bankruptcy Law | Paul Ross
    This depends on a number of other facts, the total value of the car, whether you are behind on payments, whether you are doing a 7 or 13, and more. Visit with an attorney to determine the answer for your circumstances.
    Answer Applies to: Idaho
    Replied: 7/25/2013
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    If the car has any equity, you must have an exemption for an automobile in an amount available which covers the equity to keep the Chapter 7 trustee from selling the car and using the equity to pay your creditors. If there is no equity or if you have an exemption to cover the equity, if you want to keep the car, you would have to sign a reaffirmation agreement with the lender that you agree to continue to be legally responsible for the payment of the car loan and that debt is not discharged in the bankruptcy.
    Answer Applies to: California
    Replied: 7/25/2013
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