Legal Question in Bankruptcy in California

I filed for bankruptcy in December 2012 with an open Car loan. I did not find the reaffirmation agreement and I have been making the payments according to the original agreement. I no longer wish to keep the car I am shopping for a new car but the negative equity in the car is making it hard to get financed. Can I call the lender to turn it in?


Asked on 3/16/14, 3:47 pm

1 Answer from Attorneys
Asaph Abrams Law Office of Asaph Abrams

Assuming the Asker meant he had not filed a reaffirmation agreement, then the bankruptcy discharge will shield the borrower from liability for "negative equity" after surrender of the collateral.

This answer (as well as our Web site) by San Diego Bankruptcy Attorney, Asaph Abrams doesn�t address all facts & implications of the question; it�s general bankruptcy info, not legal advice to be relied upon. The answer creates no attorney-client relationship; it may be pertinent to CA bankruptcy law only and certain facts may be relevant to the San Diego Bankruptcy Court only. The answer is independent of other attorneys' answers. Seek legal counsel before acting on or refraining from bankruptcy- or other legal-action.

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Answered on 3/21/14, 10:22 am


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