Written by attorney Robert William Young

How to Handle Car Loan in Chapter 7 Bankruptcy

A major concern for many in Chapter 7 is how to handle a car loan. Should you keep the car (can you even keep it)? Should you turn it over? What other options do you have? Depending on what situation fits best, in Chapter 7 you can surrender the vehicle, reaffirm the debt, or redeem the vehicle.

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