car loan and bankruptcy?

July 6th, 2010 by Questions

I have a car loan that is still in effect and I was wondering, if I declare bankruptcy will my vehicle be returned to the finance company?

Posted from: British Columbia


One Response to “car loan and bankruptcy?”

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

You are not required to return your vehicle when a bankruptcy is filed. Assuming you can afford the payments you do have the option to keep the vehicle and continue to make your payments, but the choice is up to you (assuming you are current on your payments right now, if you are behind the finance company may choose to seize the vehicle, but this is as a result of the arrears not a result of the bankruptcy).

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.)