Legal Question in Bankruptcy in Georgia

repossession of a reaffirmed bankrupt account

My husband and I went bankrupt about a year and a half ago at which time we reaffirmed an auto loan.Now we are 1 payment behind and they want the vehicle surrendered to them. If they take this vehicle back I am responsible for the difference of the amount owed and what they sell it for.What are my options?

please respond to my e-mail thank you Glinda McRae


Asked on 8/17/04, 8:51 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: repossession of a reaffirmed bankrupt account

Since you can't do another Chapter 7, you need to do everything you can to catch up the loan. Otherwise you will probbaly face a deficiency and be sued. In some cases you could file a Chapter 13 to keep the car and pay over time, but the long-term costs of a 13 are FAR more than catching up the payment.

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Answered on 8/17/04, 9:08 pm


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