Can i still include my car loan before discharge?
I Filled for bankruptcy in November of 2011 which was extended to 21 months. I decided to keep my truck and continue to make payments. I can no longer afford to keep the truck is it too late to include it in my bankruptcy?
Posted from: British Columbia
Probably – if you continued to make payments on the truck after you filed bankruptcy in November then you re-affirmed the debt. If you surrender the truck now then the lender can sue you for whatever you still owe on the truck.
For other people reading this post – you need to decide BEFORE you file for bankruptcy or a consumer proposal if you plan on keeping any of your secured debts (car loans, mortgages, etc). If you change your mind after you file you may be stuck paying the debt in full.