Legal Question in Bankruptcy in Missouri

I believe my husband and I should file for bankruptcy soon. We have two loans. 1 is a small loan that we have our 4x4 truck on as collateral. The other is our home loan. If we file, will we lose the truck and home?


Asked on 9/28/10, 10:02 am

1 Answer from Attorneys
Anthony Smith LawSmith

If you have sufficent income to make the payment.s you may be able to reaffirm those debts,. and not forfeit your equity in those assets. But, it differs upon what bankruptcy chapter you file under. If you feel you are getting closer to the need for bankrupcty protection, then you should conult direclty with a BK attorney in your area. They can explain your options regarding the truck and home.

Good luck

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Answered on 10/04/10, 9:44 am


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