Legal Question in Bankruptcy in California

Personal Bankruptcy Asset Inclusions

If I file personal bankruptcy do I need to include my used car loan? I would be able to kep up payments on that loan.

Thank you.


Asked on 10/29/02, 4:20 pm

3 Answers from Attorneys
Alvin Tenner Law Office of Alvin G. Tenner

Re: Personal Bankruptcy Asset Inclusions

You can re-affirm the loan during bankruptcy.

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Answered on 10/30/02, 12:55 pm
Robert Miller Robert L. Miller & Associates, A Law Corporation

Re: Personal Bankruptcy Asset Inclusions

Thank you for your posting.

In a bankruptcy, you will be asked, under oath, to list ALL assets you own, and ALL debts you currently have.

You do have, as part of the bankruptcy paperwork, a place to indicate which secured debts you want to keep. This is the "Debtor's Statement of Intention" document.

You can also sign and file a reaffimation agreement, where you and the creditor agree that you will keep the original terms of the loan, i.e., you will keep paying, and they will not repossess the vehicle.

If you have other questions, please feel free to email at [email protected], or call toll free at 1-877-568-2977.

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Answered on 10/29/02, 6:29 pm
Mark Markus Law Office of Mark J. Markus

Re: Personal Bankruptcy Asset Inclusions

It depends what you mean by "include". You must list all your assets and all your debts in any bankruptcy. Keeping the assets is another issue altogether.

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Answered on 10/29/02, 9:57 pm


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