My car has been repossessed and I really want it back. My credit is poor and I dont have the means to get the vehicle and refinance and I am trying all my options. I only owe 5000 on the truck and its 10 years old. The balance is more than the truck is worth, so I am trying to see what could I do to get it back if anything or start all over.
Bankruptcy is a legal way for people or businesses who are no longer capable of paying back their bills to clear these debts and start over.
Chapter 7 bankruptcy is a form of bankruptcy where your debts are canceled, but some of your assets are sold to pay off part of your debt.