I would like to know if I file bankruptcy , can I still keep the car I am making payments on.

Bankruptcy and Debt 4 views 4 answers
I think I am being sued.

Attorney Answers

4
Arthur James SouthardBankruptcy AttorneyCincinnati, OHOH licensed ·
So long as you're up to date on your car payments and you don't have more than $3,675 in equity in the car, you will likely be able to keep the car. To answer this question more accurately, we would need more facts such as the car value and car loan amount. Consult a bankruptcy attorney immediately. Good luck!
0 upvotes
Jann Washington ·
If you are in arrears on the car, you can make arrangements to pay the arrearage through a chapter 13 bankruptcy. You really need to consult with a bankruptcy attorney to obtain a true reflection of your options.
0 upvotes
Michael Corbin ·
If you're being sued by the car lender, then probably not. The only way you could keep the car and file a Chap. 7 bankruptcy would be to get current on the loan and then sign an agreement to continue paying the loan. If you file a Chap. 13, you'd be able to put the back-due loan payments into the payment plan, but you'd still have to make the monthly payments PLUS the plan payment. Either way, you have to get current on the loan. If you can do that, then, yes, you could keep the car.
0 upvotes
Carly BoydChapter 7 Bankruptcy AttorneyIndependence, OHOH licensed ·
As the previous answers state, you can keep the car if you are current on your payments and falls under the exemption amount. However, if your car is worth more than $3,600, then you can submit a reaffirmation agreement with the lender which allows you to keep making payments on the car and retain ownership.
0 upvotes

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