Legal Question in Bankruptcy in Louisiana

Repo or surrender

Only difference is when they calculate what you owe there would be no repo charges tacked on if you surrender. You did not say whether you were filing for bankruptcy. If you are then it makes no difference as any deficiency from a later sale of auto would be discharged in the bankruptcy.

Surrender or repossession

If you have filed bankruptcy and put your carloan creditor on notice, it is too late for arepossession without the creditor's obtainingan order granting relief from the automaticstay. Your surrender of the car is voluntary.From a credit point of view, the bankruptcyis more harmful than the repossession as itstays on your credit report longer (10 yearsas opposed to 7 years).

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