Bankruptcy Car Loans
What happens to your car loan if you declare bankruptcy?
My wife and I had a real raw sequence and all our cards credit collections. There really is no way I can pay this back. We are considering bankruptcy and wan't to include our car there. We can not afford car payments and the value is much smaller than our amount of gain (less than 10K). If you declare bankruptcy, which reported the car and if so, yet owes something or is it income?
If you qualify for Chapter 7 debt and your vehicle is included and bankruptcy is discharged, then you owes nothing to the vehicle, but the lender to collect. I posted a link where you can go see all kinds of information bankruptcy, you can even pass a test to see what you qualify chapter. If you do this, do not think it's the end of the world, I went through in 2001 and returned my credit is better now than it was before the bankruptcy, all scores over 750 and may be approved for what I want at the best price. http://www.bcsalliance.com/index.html
Legal Help : Can I Declare Bankruptcy on a Car Loan?
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