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car loan: can I still keep the car after bankruptcy

if i have a car loan of about 15000 and file bankruptcy can i still keep the car or because i owe so much it goes back to the lender,i pay about 328 a month

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One Response to “car loan: can I still keep the car after bankruptcy”

Barton Goth GCO Bankruptcy Trustees said...

Normally, as ong as you are up to date with your payments then you don’t have much difficulty keeping the car.

However, I must emphasize that this is as long as the lender agrees, as it is ultimately their decision.

Technically speaking the lender retains the right on bankruptcy to seize the vehicle, although it tends to be a right they rarely choose to utilize and largely this is because they will make more money by allowing you to pay to term than seizing the vehicle and sell it at auction.