Legal Question in Bankruptcy in California
bankruptcy and a repossession
I have a car that is being repossessed and I am negative $30,000 in equity. I have no money. If they take me to court and the judge finds in favor of the creditor then how long will I have to pay? I most likely will be filing for bankruptcy very soon. If I file for bankruptcy will I still be liable for that debt? Can they still come after me?
Asked on 12/03/08, 11:16 pm
2 Answers from Attorneys
Brian Whitaker
Lifeline Legal, LLP
Re: bankruptcy and a repossession
If you file Chapter 7 bankruptcy, the debt will be discharged whether they've sued you or not.
Answered on 12/04/08, 10:43 pm
Phillip Lemmons, Esq.
Phillip Lemmons APC, Attorneys at Law
Re: bankruptcy and a repossession
It will most likely be discharged in bankruptcy.
Answered on 12/06/08, 2:19 pm
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