Chapter 7 bankruptcy and car loan

Get Legal Help Today

 Secured with SHA-256 Encryption

Chapter 7 bankruptcy and car loan

My husband and I bought a car in our name for my brother. He is making all of the payments on it and has never been late. Only myself plans on filing for chapter 7. Will my brother have to put the car in his name and if he doesn’t, will he lose the car? The payments are $300/month and there is a little over $10,000 left on the loan. Thank you

Asked on June 29, 2009 under Bankruptcy Law, Michigan

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I am a lawyer in CT and practice in this area of the law.  You do not have to worry here.  Your brother should not have to give up the car.  The car is not required to be among the list of the debts you want discharged.  In fact, you do not need to have to list the car.  Your brother should be able to keep the car without an issue.  You should hire a lawyer to do the bankruptcy.  This way you can make sure that the lawyer only discharges the debts you want.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption