Car loans and bankruptcy?

The majority of the debt that my husband and I have are in MY name although we have 2 car loans in OUR name. If I file alone, what will happen to these 2 car loans? Can we reaffirm the debt? Also, if we decide to put those 2 cars into the bankruptcy and file together, what will happen to the cars and how can we find means of transportation after a bankruptcy that won’t cost us an arm and a leg?

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This entry was posted on Wednesday, November 11th, 2009 at 12:06 am and is filed under bankruptcy auto loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Car loans and bankruptcy?”

redenz40 on November 11th, 2009 at 12:06 am

if you are behind in the car payments and you are not upside down in the cars the you will need to file a 13 and put the payments in the plan you will keep the cars and continue paying for them through the plan. On the other hand if you are not behind you can file a 7 reaffirm the debt and you keep the cars and continue to make the payments.

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