Legal Question in Bankruptcy in California

My husband and I must file bankruptcy can we file on all by one credit card? Also we have a car loan and Credit card from the same bank, if we file on the credit card can we keep the loan, and will it be affected


Asked on 10/03/09, 5:18 pm

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

You must list all of your assets and all of your debts. You may make informal arrangements with a credit provider to continue paying. Since a car loan is at least partially secured by the vehicle, if you are current, there shouldn't be a problem keeping the car. Once you file the BK, it would be wise to talk to the creditor about your options about how to keep the car, and make an informed decision about whether that's the best way to go.

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Answered on 10/03/09, 6:33 pm


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