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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?


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Wiki User
2015-07-16 19:28:04
2015-07-16 19:28:04

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: http://freshstartsolutions.com.au/bankruptcy/#bankruptcyoption

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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.

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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.

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

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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.

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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.


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