What to do about bankruptcy and keeping your car?
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What to do about bankruptcy and keeping your car?
A couple years back, in an attempt to save some money, we consolidated a few credit cards along with our car loans into one big lump. Now that we may have to file bankruptcy, what are our options for saving our cars without a 40k bill? Both cars are bout 6 years ols and total value based on blue book is about 15k.
Asked on July 16, 2013 under Bankruptcy Law, Connecticut
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
Whetrher or not you are able to keep your vehicles pending your bankruptcy filing depends upon whether or not you continue to keep your payments current on the vehicles or not and if the lender wishes to write off the balance owed or not.
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