Are you considering bankruptcy, but you do not want to give up your car? Do you know your options when it comes to your car? You could ask an attorney, but they will charge you for their time. There is a pretty easy answer to the question, "do I have to claim my auto loan on a bankruptcy?"
First, if you need to keep your car, then you do not have to claim it on your bankruptcy. You do not have to wipe out all the debts, but you will probably have to show that you have paid your auto loan on time and can continue to do so. This is not always the easiest thing to do especially if you have not been on time with the car payments.
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Second, the judge will be the sole decider in whether or not you have to claim your auto loan. If the judge decides that you need to claim it, then your car will be repossessed and you will have the loan cleared with your bankruptcy. If you get to keep it, then you have to continue to make the payments just like before.
Last, your best bet is to either sell the car and pay off the loan or take out another loan to pay off the car. It is much easier to keep a car that is paid off and your lawyer will be able to argue for you better if it is paid off. This works out best if the car is not worth much because it is not as big of an asset.
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