Vehicles

Many people filing for bankruptcy want to keep their car and they’re in luck, as you can often keep your car in bankruptcy. Find out how. Debts

Reaffirmation Agreements

People who file bankruptcy are often concerned about what's going to happen to their car. Signing a reaffirmation agreement is one option that lets you keep your car and continue making the payments, but it's not the only option and might not be the best option in your situation. Read on to learn about how reaffirmations work and factors to consider when deciding whether to sign a reaffirmation agreement.

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Can I sell my car during bankruptcy?

Probably the most often asked question when it comes to filing for bankruptcy is if you can keep your car. While the answer to that question depends on several factors, sometimes the issue is the complete opposite and the question is whether you can sell your car during bankruptcy. Continue reading to learn what to expect if you’re considering selling your car during a Chapter 7 or Chapter 13 bankruptcy.

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Why can’t I login to my account to pay my car loan anymore?

After a bankruptcy filing, some creditors block you from logging in to your account. This becomes a problem if you want to keep your car and need to make your payment. Unfortunately, there isn’t much consistency among lenders on when and why they do it. They say it’s because they don’t want to violate the automatic stay. Unfortunately, what it really does is make it much harder for the filer to make their payment. 

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I had a car accident after filing a Chapter 7 bankruptcy. What do I do now?

While a property settlement from the insurance company may have to be paid to the trustee, any personal injury settlement you’re entitled to as a result of the accident is yours to keep. This article will explore what steps to take if you get in a car accident after filing a Chapter 7 bankruptcy.

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How to Amend your Statement of Intentions

The Statement of Intentions is the bankruptcy form that you filed with the court to let your creditors know what you want to do with your secured debts, most often a car loan. If you have changed your mind and need to amend (update) your Statement of Intentions, follow the steps outlined in this article.

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Can bankruptcy help me get my car back after repossession?

If your car has been repossessed, you’re probably stressed out and worried. If you have fallen behind on your payments and are wondering if bankruptcy can help get your vehicle back, the simple answer is yes, though it doesn’t always make sense to do so. If your car has been repossessed, [bankruptcy can help](https://upsolve.org/learn/should-i-file-bankruptcy-after-repo/ "bankruptcy can help you") you get it back as long as you quickly take action to recover your vehicle.

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Can bankruptcy help me get my car back after a repossession?

Filing bankruptcy may allow you to get a car back after it has been repossessed. This article explores how this might work in Chapter 7 vs. Chapter 13 bankruptcy and why it may not always be a good idea to try.

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What happens to the co-signer of a car in bankruptcy?

If you have bought a car and your loan has a co-signer, you may wonder what will happen to the co-signer when you file bankruptcy. This article explains your options and how they'll affect your co-signer.

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What is the difference between a co-signer and co-owner of a car?

A co-signer on a car loan is obligated to pay the loan if the other person defaults on their payment obligation while a co-owner of a car has an ownership interest in the vehicle itself. This article explains how to properly disclose these relationships in your bankruptcy forms.

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I drive for Uber. Can I keep my car if I file for chapter 7 bankruptcy?

Probably. You are only at risk for losing your car during a Chapter 7 bankruptcy in one of two scenarios.

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I called my car lender to talk about my bankruptcy and they refuse to talk to me. What should I do?

It is not uncommon to have a lender react this way after a bankruptcy filing. When you file a bankruptcy an automatic stay goes into effect, which means that creditors cannot continue in any collection efforts while the bankruptcy is ongoing.

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How can I surrender my car in Chapter 7 bankruptcy?

"Surrendering" your car means that you give it back to the lender that gave you the loan to purchase it. If you surrender your car as part of your Chapter 7 bankruptcy, any debt that you owe on it will be eliminated when you receive your bankruptcy discharge.

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Can I keep my car if I file for bankruptcy?

As long as your car is worth less than the available exemption, your car is protected in your bnakruptcy. But, exemptions typically only come into play for property the filer owns free and clear. If you’re still making payments on your car loan, you should also learn about [reaffirmation agreements](https://https://upsolve.org/legal-definitions/reaffirmation-agreement/ "Definition of Reaffirmation Agreement"). This article will discuss what a reaffirmation agreement does and why it matters to you.

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When should I redeem my car?

"Redeeming" your car means that you buy it from the lender. To do this, you must pay the lender for the fair market value of the car.

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I want to redeem my car. When do I do it?

"Redeeming" your car means that you *__buy it from the lender that you financed it with__*. To do this, you will pay the fair market value of the car, in exchange for the title of the car. The remaining balance owed is discharged.

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Can I buy a car before or after I file for bankruptcy?

There is nothing that prohibits debtors from buying a car before filing or after filing. Whether it makes sense to buy now or after filing is a personal decision that depends in part on whether a debtor has good credit now, that will deteriorate after filing or bad credit that will improve after filing.

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What Happens if I'm Not Current on My Car Payments?

If you’re behind on your car payments and don’t have the ability to get current, Chapter 7 bankruptcy probably won’t prevent the creditor from repossessing the car. While your bankruptcy filing will initially stop any repossession, the lender can ask the court to lift the automatic stay. And if you are behind on your payments, most courts will lift the stay to let the lender proceed repossess the car.

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If I surrender my vehicle, will I be responsible for any balance owed?

No. Even if the car is sold for much less than what you owe on the loan, your personal liability to pay the loan is discharged.

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What does it mean to surrender your car in bankruptcy?

Surrendering your car in bankruptcy is similar to voluntarily surrendering your car when you can't make the payments any more, with one very important difference: Just giving your car back doesn't get you out of your loan. If you're surrendering your vehicle as part of your bankruptcy case, on the other hand, you're relieved from the obligation to pay off your car loan.

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How Do I Reaffirm My Car Loan?

The 6-step process of reaffirming a car loan.

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What should I do if I changed my mind about keeping my car after bankruptcy?

Did you originally plan on keeping your car but changed your mind? That is totally ok! Here is what you need to do to make sure you’re protected, depending on where you are in the process.

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What happens if I owe money on a car I need after bankruptcy?

Bankruptcy gives you some flexibility in how you deal with your car loan. The bankruptcy forms provide you with at least three choices for dealing with your car loan. You can __surrender__ your car to the lender, __redeem__ the car for its value, or __reaffirm__ the car debt. 

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Do I own my vehicle? What percentage of it do I own?

Whether or not you own your vehicle depends on whether you purchased it using a loan or leased it from a dealer or other agency.

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Why doesn't my car appear on my exemptions list?

There are a few reasons that your car(s) might not be listed on your exemptions list.

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How to redeem your car?

Redeeming your car debt in bankruptcy can make sense if the car is worth much less than the amount you owe on your car loan. Redemption allows you to pay the lender the value of the car, rather than the larger amount you owe.  

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I bought my car with my deceased grandma as co-signer. Am I the sole owner?

We're not sure. It may depend on your grandmother’s will. If she left her interest in the car to you, you would be a sole owner of the car.

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Should I File For Bankruptcy After A Repo?

Filing for bankruptcy after a car repo can get rid of any remaining debts that you have for your car.

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What Happens to My Car Loan After Bankruptcy?

You might be wondering what happens to your car loan after bankruptcy. One popular misconception is that bankruptcy can get rid of your car loan while allowing you to keep your car. This article goes over your options for dealing with a car loan during and after Chapter 7 bankruptcy.

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Upsolve is a 501(c)(3) nonprofit that started in 2016. Our mission is to help low-income families who cannot afford lawyers file bankruptcy for free, using an online web app. Spun out of Harvard Law School, our team includes lawyers, engineers, and judges. We have world-class funders that include the U.S. government, former Google CEO Eric Schmidt, and leading foundations. It's one of the greatest civil rights injustices of our time that low-income families can’t access their basic rights when they can’t afford to pay for help. Combining direct services and advocacy, we’re fighting this injustice.

To learn more, read why we started Upsolve in 2016, our reviews from past users, and our press coverage from places like the New York Times and Wall Street Journal.

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