Legal Question in Bankruptcy in California

Bankrupty Auto Loan

I filed bankruptcy back in May 2008. I kept 2 Auto Loans that I am still currently making payments on. 1 of the Auto Loans is listed as discharged on my credit report, but I am still making payments. Is this correct? I do not know what the proper forms are called, but I sent in signed forms that I will still be making payments on this auto loan.


Asked on 1/05/09, 12:39 pm

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

Re: Bankrupty Auto Loan

It's called a "reaffirmation agreement." Essentially, you've signed an agreement that takes the vehicle out of bankruptcy. If you eventually can't pay on the loan, the lender could repossess the car and charge you for any deficiency between its auction price and the amount you still owe.

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Answered on 1/05/09, 3:09 pm


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