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So I filed CH.7 Bankruptcy yesterday as I had completely destroyed my credit over my younger years. I have 40k in student loan debts and haven’t started paying on yet. I consulted with an Attorney last year and he told me that I could actually benefit from a BK. Once my BK is discharged I will have my debts discharged expect for student loans. I also have one secured credit card with Capital One I applied for after I filed and a car loan that is current and I have never been late on. Will they let me keep my car? I owe about $9100 on it. My goal is to rebuild and start fresh and have no negative marks after Bankruptcy.

sara · Posted: Wed Jan 25, 2012 3:34 am Post subject:

Hi Jessy,

You will have to list the car as your asset and mention it as one of your debts. Then you can reaffirm the car loan. This will make you personally liable for the car loan debts. Then you can pay the loan on time and keep your car.

Take care

smithsussane · Posted: Thu Jan 26, 2012 9:47 pm Post subject:

Hi Jessy!

Welcome to forums!

As far as I can understand, you will be able to keep your car provided you reaffirm your loan as Sara has said. However, you should also check out whether or not your car lender will allow you to reaffirm the loan. Many a times, the lenders may not be ready to let you reaffirm the loan.

Feel free to ask if you've further queries.

Sussane

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