Legal Question in Bankruptcy in California

Bankruptcy Delarations

When filing for bankruptcy, must I declare any items I wish to keep, or are not delinquent? For example, if I wish to keep my car, but file on credit cards that are delinquent.


Asked on 5/09/04, 2:48 am

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

Re: Bankruptcy Delarations

You must list all assets and all debts. Most auto financing companies will be happy if you continue to pay your car loan without reaffirming the debt. If you -do- reaffirm the debt, you are creating a new contract that you can't back out of if you decide later you don't want to keep the car. Please let me know if I may be of further assistance.

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Answered on 5/09/04, 5:48 am


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