Already bankrupt and cannot afford my car payments!

June 19th, 2010 by Questions

I filed for bankruptcy in June of last year and am soon to be discharged after settling all my surplus up with my trustee. I still owe 14,500 on a car that I can only get 9,000 for. I cannot afford the payments anymore and need out. Can I just `give` the car to the lender and explain my situation? Because I am still in bankruptcy is there any way that this will affect anything as I intend to begin rebuilding my credit in the very near future?

Posted from: British Columbia


One Response to “Already bankrupt and cannot afford my car payments!”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

At this point the bankruptcy has no ability to protect you if you return the car. It is not the process that is important when it comes to what can be captured by the bankruptcy, but the day you file bankruptcy. the date you filed is essentially the cut-off and you can be protected from things that happen prior to a bankruptcy but after that date the bankruptcy has no authority.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)