What Happens To My Car In a Chapter 13 Bankruptcy?


When you file a Chapter 13 bankruptcy case, you must propose a plan to repay your creditors. Usually, your unsecured creditors (such as credit cards, personal loans, medical bills, and other debts for which no collateral is pledged) will be discharged without any payment. However, if you want to keep your secured assets, such as your home, vehicles, or other assets you are buying on credit, such as furniture, you must arrange to pay for those assets.

You have three options regarding your vehicles in a Chapter 13 bankruptcy...

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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