If I have a title loan that I'm behind on, among other bills, can I file bankruptcy to get out of the debt I'm in? 14 Answers as of August 01, 2013

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Law Office of Norman Moore
Law Office of Norman Moore | Norman P Moore Jr
You can. You should consult an attorney with specifics if you are interested in keeping the property.
Answer Applies to: Wisconsin
Replied: 8/1/2013
The Law Offices of Deborah Ann Stencel | Deborah A. Stencel
Sure, assuming you qualify for bankruptcy. Whether you qualify for bankruptcy depends on a number of factors which include income, prior bankruptcy, assets, and types of debt. Please note, that if you want to keep the car and the title lien is valid, you will need to pay it regardless of whether you file bankruptcy.
Answer Applies to: Wisconsin
Replied: 8/1/2013
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, but the title loan remains a lien. If you can't pay it, see a lawyer about chapter 13.
Answer Applies to: California
Replied: 8/1/2013
Law Office of Susan G. Taylor
Law Office of Susan G. Taylor | Susan G. Taylor
Can't discharge a title loan must pay to keep vehicle.
Answer Applies to: Texas
Replied: 8/1/2013
Bird & VanDyke, Inc.
Bird & VanDyke, Inc. | David VanDyke
A title loan on your car creates a "secured" debt whereby if you do not pay the loan the lender can satisfy its debt by repossessing the car. So if you intend to keep the car you will need to keep paying the debt even if you file for bankruptcy. If you do not wish to keep the car you can file for bankruptcy and surrender the vehicle to the lender and you will owe no money.
Answer Applies to: California
Replied: 8/1/2013
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    A title loan allows the lender to repo the vehicle unless you pay the debt. Bankruptcy won't change that situation, but it could give you some additional time to come up with the money to pay off the debt.
    Answer Applies to: Nevada
    Replied: 8/1/2013
    Law Office of Thomas C. Phipps | Thomas C Phipps
    Yes. You can discharge all of your unsecured debts in a chapter 7.
    Answer Applies to: Missouri
    Replied: 8/1/2013
    Mark S Cherry, Attorney at Law, PC
    Mark S Cherry, Attorney at Law, PC | Mark Cherry
    A title loan collateralized whatever you secured. You cannot get out of the loan and keep the property free and clear of liens.
    Answer Applies to: New Jersey
    Replied: 8/1/2013
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    Yes, but bankruptcy will not get your title back for you without satisfying that loan.
    Answer Applies to: Colorado
    Replied: 8/1/2013
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    Yes, but if they have title to your car, they will get it.
    Answer Applies to: New York
    Replied: 8/1/2013
    Law Offices of Daniel J Winter
    Law Offices of Daniel J Winter | Daniel J Winter
    The title loan, generally, would have to be paid. Assuming that the loan is secured by the title to a vehicle you want to keep, that loan would survive any bankruptcy case. However, depending on the situation, you might be able to reduce the amount you pay, and/or the interest rate or the monthly payment amount to be paid to keep the vehicle. It is important that you speak to an experienced bankruptcy attorney to discuss your options.
    Answer Applies to: Illinois
    Replied: 8/1/2013
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