Legal Question in Bankruptcy in California
If you want to declare banckruptcy and have a debt with a bail agency and they have secured the debt with a car title as well as post dated checks, is this a debt that can be discharged through a chapter 7 bankruptcy.
1 Answer from Attorneys
The bail agency is treated like a secured creditor with the car. In Chapter 7, one option the debtor has is to surrender the car to the creditor, and then the debt is discharged. If they have a security interest in the car, that's all they're entitled to if you surrender it.
Larry L. Doan, Esq.
Note: The above response is provided for legal information only and should not be construed as legal advice, nor to create an attorney-client relationship, which can only be established through payment of consideration. We do not offer free advice except for the information provided herein on LawGuru which has been screened. If follow-up advice on your specific situation is desired, we offer a paid consultation in person if you are in the Los Angeles area, or by phone or email.
Related Questions & Answers
-
I'm thinking about going into a Chapter 7. I've stopped paying on my house for 2... Asked 8/06/09, 12:48 pm in United States California Bankruptcy Law