Legal Question in Credit and Debt Law in Missouri

If you're going to file a chapter 7 bankruptcy, it doesn't matter. The debt will be wiped out.

However, if that's not the immediate plan, surrendering the vehicle would reduce the amount of money that the creditor will want from you. Remember, all the costs associated with 1) repossessing the vehicle (ie paying the repo man), and 2) selling the vehicle at the auto auction (or a private sale) will be ADDED to the note. And there may be additional costs you for which you will be responsible. You will only get credit for the sales price (which will be pennies on the dollar of its Fair Market Value) at the auction/private sale.

Is it possible for you to sell the car and get a loan from a local credit union for the balance due? This would be the smartest option...