Am I able to add it on to my bankruptcy debt?

August 24th, 2015 by Questions

I have recently filed for bankruptcy about six months ago. I was able to keep my truck but now am realising I can no longer afford it. Am I able to add it on to my bankruptcy debt or what are my options


One Response to “Am I able to add it on to my bankruptcy debt?”

, Desmond West-Chow, CIRP said:

Bankruptcy only deals with debts that exist on the day you file bankruptcy. In order for a secured debt, like a vehicle loan or a mortgage, to be included in a bankruptcy, the vehicle or home tied to the debt must be given up in order for that debt to be something that can be included in the bankruptcy. In your situation, where the truck was kept it is now considered a debt after bankruptcy and as such cannot be included. To consider your options, I encourage you to contact your trustee and discuss the local legislation and the resulting options to deal with your truck loan.

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