Legal Question in Bankruptcy in Wisconsin

Unfortunately, bankruptcy does not remove a properly perfected lien on the title of a vehicle, although it will relieve you from personal liability after the car is repossessed for any deficiency balance left over after the the lender resells the car. However, if you are able to pay the fair market value of the car in cash, you may be able to get a bankruptcy court to allow you to keep the car by paying that amount. This is known as a "cramdown," to fair market value. It is an expensive bit of litigation, though, in addition to the fees required to file the bankruptcy. Therefore it may not be worth pursuing unless the car is a more recent model with significant value. These comments are meant for public education only and are not intended as legal advice for you. You therefore need to retain your own lawyer before you make any decisions.