How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JoeLawyer Your Own Question
JoeLawyer, Attorney
Category: Bankruptcy Law
Satisfied Customers: 767
Experience:  Attorney in the practice of Bankruptcy Law since 1996
Type Your Bankruptcy Law Question Here...
JoeLawyer is online now
A new question is answered every 9 seconds

I filed Chapter 7 in March of 2002. Well, I lost my job ...

This answer was rated:

I filed Chapter 7 in March of 2002. Well, I lost my job last yr and was unemployed for 6 months. I almost lost everything. I got a job now but I can't make my car payment and they will not refinance nor will anyone else due to the fact my interest rate is high and I owe more than it is worth.I NEED to get rid of this vehicle. I was doing GREAT at first,making money etc but then the company went down and so have I ever since.What can I do to get rid of my vehicle? It is a 2005 Ford Explorer.My debt including the vehicle is about ... maybe $ 27,000 if that.

Hi West Virginia Mama:

I cannot give you advice since I am not licensed to practice law in West Virginia, but I can give you information. The first piece of relevant information is that one cannot file Chapter 7 within 8 years of the date a prior bankruptcy case was filed that received discharge. So, if you filed bankruptcy in 2002 and that case received a discharge, you can't file Chapter 7 for another 2 years or so.

However, one can file Chapter 13 anytime after a prior bankruptcy. So, you may be eligible to file Chapter 13 to get relief from the car loan. Chapter 13 requires you to pay as much as you can to the court in monthly payments for 3 to 5 years, and at the end of the 3 to 5 years, your case is over and you get a Discharge. You don't have to pay everything you owe over 3 to 5 years, just as much as you can afford over that time, and whatever does not get paid is discharged.

This may be a great option for you so you can get instant relief from the car loan and discharge the car loan. You may also be able to restructure your car loan so you can keep it. Speaking to your lawyer may give you other options as well, since Chapter 13 is generally very flexible in helping you restructure your debts.

I hope this helps and a positive feedback is always appreciated if this was useful to you.


LEGAL NOTICE: I am only licensed to practice law in certain state(s) and I cannot give legal advice to someone who does not reside in a state in which I am licensed, nor shall anything I say in the above answer or elsewhere on this site be deemed legal advice, even to someone who resides in a state in which I am licensed. Fees I receive for answering questions are paid for information, not for legal advice. This forum is designed to provide general information only, and information herein is not warranted to be correct or applicable in any way since laws may have been misinterpreted herein, since laws change from time to time, and since the impact of those laws on any particular situation varies. The information presented in this site shall not be construed to be formal legal advice nor the formation of an attorney-client relationship. Persons accessing this response are encouraged to seek independent legal counsel in their jurisdiction for guidance regarding their individual circumstances. Do not take any action or inaction based on information presented herein since it is informational and may not be accurate or applicable to you; it merely attempts to give you a basis of knowledge to help you formulate questions to ask a legal or other professional in a face-to-face meeting in your jurisdiction. Joseph Ross does not hold himself out to be a specialist or expert in any area, regardless of assertions made by any third party, and any implication of being an expert or specialist herein is made in error. I hope the information presented above is useful to you. Answer above is (c) Joseph Ross. All rights reserved.

JoeLawyer and 2 other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions