Legal Question in Bankruptcy in Florida
If you file bankruptcy and have a balance on a auto loan can you keep the auto
Asked on 7/09/15, 1:08 pm
1 Answer from Attorneys
R. Jason de Groot
R. Jason de Groot, P.A.
In order to keep the auto, you have to pay the balance on the auto. It is what is known as a secured debt, and if you do not pay, the car gets repossessed. You have to indicate what your intentions are in the bankruptcy papers, regarding the debt. One choice is to reaffirm the debt, which means that you do not get the debt discharged. Basically, if you want to keep the auto, you have to pay for it.
Answered on 7/09/15, 1:17 pm
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