I'm often asked if people can keep their house and car if they file bankruptcy. The short answer is usually "Yes", if they keep making the payments.
Are you behind on your car payments and afraid your car will be repoed? Consider bankruptcy!
I hear that often, and my response is always "You must list all of your assets and all of your debts". But then I proceed to explain that it's very likely that they can keep their car. Let's see how and why.
If you owe way more on your car than it's worth, filing bankruptcy might fix that. How does that work? (more…)
Think you'll be stranded with no way to get a loan if your car dies soon after your bankruptcy? If so, read this…
Last week we looked at how a Chapter 13 (payment plan) bankruptcy might help when you owe way more on your car than it's worth. Today we look at how a Chapter 7 (get rid of debts quickly) bankruptcy might help in this situation. (more…)
If you, like many people, owe way more on your car than it's currently worth, then a Chapter 13 bankruptcy might be able to fix that for you. (more…)
I received a discharge of debts in a Chapter 7 bankruptcy and now I can't keep making payments on the car. If they repossess the car, can they also sue me? (more…)