Many debtors are able to keep their cars in bankruptcy. The basic strategies for keeping an automobile depend primarily on the value of the car, the existence and amount of a car loan, and the bankruptcy chapter chosen. Please contact our bankruptcy attorney to discuss the particulars of your situation.
When a debtor reaffirms a debt, they have voluntarily decided to waive the bankruptcy discharge for that debt and responsibility for payment of the debt will continue unchanged after bankruptcy. Reaffirmation agreements are most often used for car loans in chapter 7 bankruptcy.