Best Answer

B/K depends on your situation and there is no standard advice. But that is likely the best thing to do. As you stated, you cant afford it.Ask your B/K attorney. S/he can advise you better.

I agree with that answer. Talk to your attorney.

Filing for bankruptcy is a legal process and can be complicated so it's important to work out your bankruptcy carefully. Bankruptcy is the best way to get relief from debt.Get advice on bankruptcy and how best to deal with your debts , This independent website has a lot of useful information:

User Avatar

Wiki User

โˆ™ 2015-07-16 19:28:04
This answer is:
User Avatar
Study guides


26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

See all cards
1 Review

Add your answer:

Earn +20 pts
Q: If you are filing personal bankruptcy and have a truck you cannot afford should you have it repossessed and include the debt in the bankruptcy?
Write your answer...
Still have questions?
magnify glass
Related questions

Can a motorcycle be repossessed if you cant afford the payments?

Of course.

I am nearing retirement and have many credit card bills to pay which i cannot afford. is bankruptcy an answer and will it affect my partner if it is personal bankruptcy?

You should definitely discuss bankruptcy with an experienced attorney. It will affect your partner only if you have joint debts that wll have to be listed in the bankruptcy. S/he will have to pay the debt.

If You owe money to someone in bankruptcy - will you have to pay it if you can't afford it?

You have to pay your debts...the other persons bankruptcy isn't really relevant...YOU HAVE TO PAY PEOPLE YOUR DEBTS...FIND A WAY TO DO SO. You can't afford other things....your debts you MUST afford.

You are financing a vehicle but you can no longer afford payments what can you do?

Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.

How can I buy a motorcyle during bankruptcy?

I hate to break it to you but in my opinion you can not afford to buy a motorcycle if you are in bankruptcy unless you have cash saved up.

On average what is the quality of most repossessed vehicles?

The owner of a vehicle that has been repossessed, cannot afford to make their payments, so it makes sense that they cannot afford to perform the required scheduled maintenance on the vehicle. This is not always the case but IMO, I would never buy a repossessed vehicle, unless it had extremely low mileage of say less than 20,000 miles.

Can you buy another car even though is repossessed?

If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.

When is it necessary to declare bankruptcy?

It is necessary to declare bankruptcy when a person cannot afford to continue paying for bills and other things they need. A person may declare bankruptcy if their business is not making any money.

My car was repossessed and now they want me to pay for the remaining balance on the loan and I can not afford it. What can the lender do legally to get payments in the state of Pennsylvania?


How do you get rid of an 4 year old warrant that you cant afford to pay?

Certainly not through bankruptcy.

Can lease auto be repossessed when you do not have insuarance?

The terms of most auto leases require that you maintain insurance. Failing to do so is typically cause for termination of the lease. If you can't afford insurance, you can't afford to drive.

How much does it cost to file for consumer bankruptcy?

Filing for Chapter 7 Consumer Bankruptcy, the most common type of Consumer Bankruptcy, costs an average of around $1500. Filing for Chapter 7 Consumer Bankruptcy is so expensive that many people can't even afford it.

People also asked