If I am starting Chapter 7, should I include my car but I owe some money? 12 Answers as of August 12, 2017

It is a 2016 Altima and I owe 30K.

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Ronald K. Nims LLC | Ronald K. Nims
Yes, all debts are included in a Chapter 13. If you're going to keep the car, you can do a reaffirmation agreement, a 722 redemption or pay as you go. Talk to your attorney about which is better in your situation.
Answer Applies to: Ohio
Replied: 8/12/2017
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
You should meet with an attorney about a 722 redemption. However, in most cases, if you want to keep the car you have to continue making car payments. You also have the option to surrender the car.
Answer Applies to: Colorado
Replied: 8/12/2017
A Fresh Start
A Fresh Start | Dorothy G Bunce
Hello - if you are filing bankruptcy, you MUST INCLUDE all your assets and all your debts. Otherwise, you can go to prison!
Answer Applies to: Nevada
Replied: 8/12/2017
Law Office of Kimberly Fives | Kimberly Fives
All property must be included whether paid off or not.
Answer Applies to: California
Replied: 8/12/2017
Law Office of Stuart M. Nachbar, P.C.
Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
You are required to include it, failure to do so is a felony.
Answer Applies to: New Jersey
Replied: 8/11/2017
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    The law requires you to list all of your debts. That includes the car. You may reaffirm the car or if your budget is too tight you can have the court rule on it. Either way, you must keep making payments to keep it.
    Answer Applies to: California
    Replied: 8/11/2017
    Patrick W. Currin, Attorney at Law | Patrick Currin
    You MUST include your car even if there is no equity. I do not advise you try and muddle through a BK without an attorney.
    Answer Applies to: California
    Replied: 8/11/2017
    Eranthe Law Firm
    Eranthe Law Firm | Cate Eranthe
    When you file a bankruptcy everything is included. All your assets, all your debts and your entire financial information is disclosed. Please talk to your attorney about how to handle things.
    Answer Applies to: California
    Replied: 8/11/2017
    CARL C SILVER ATTORNEY AT LAW
    CARL C SILVER ATTORNEY AT LAW | Carl C Silver
    They are a creditor so it must be listed. The question is whether you want to keep it or not. This is your chance to dump it if it is worth less than you owe on it.
    Answer Applies to: Michigan
    Replied: 8/11/2017
    Stephens Gourley & Bywater | David A. Stephens
    Yes.
    Answer Applies to: Nevada
    Replied: 8/11/2017
    Danville Law Group | Scott Jordan
    As a debtor, the law is that you must list all of your assets and all of your debts in the schedules. Failing to list an asset or debt would be grounds for denying the discharge. So, yes, you must include the vehicle and the debt secured to the debt. This does not mean you will lose the car. You can state that you intend to retain and pay on the Statement of Intention form.
    Answer Applies to: California
    Replied: 8/11/2017
    OlsenDaines | Rex Daines
    You must list all asset and all debts on your chapter 7. If you want to keep the car, stay current on the payments and process the reaffirmation agreement when the lender sends it to you. If you want to give back the car, stop making payments and give it back when they call and ask for it.
    Answer Applies to: Oregon
    Replied: 8/11/2017
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