Legal Question in Bankruptcy in Wisconsin

Re: Keeping Truck Via Bankruptcy Filing

A chapter 13 bankruptcy filing can stop replevin (repossession) proceedings on a vehicle if filed in a timely fashion and if payments and insurance are continued after filing. A chapter 7 will not provide much relief (only about 30 days worth) unless you can work out a deal with the creditor which allows you to retain the vehicle and reaffirm the loan. In either chapter, the creditor can obtain permission from the bankruptcy court to repossess the vehicle even after the bankruptcy filing if the creditor is not adequately protected from losing money on it's collateral. "Adequate protection" also usually implies continuation of all loan obligations after the bankruptcy filing. Also, many traditional rights of bankruptcy have recently been taken away from those who have filed multiple times, so this explanation may not apply to such persons.