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Law Girl
Law Girl, Attorney
Category: Bankruptcy Law
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Experience:  I am an attorney.
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With Chapter 7 bankruptcy can you file on some debts and not

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With Chapter 7 bankruptcy can you file on some debts and not the others? I have a car that I am current with and I would like to keep. Do I file against the creditor and then reaffirm later? Or do I not list them at all? I still owe on this vehicle, more than it is worth, but I have never been late on a payment. If I do need to list them and reaffirm later, do I stop making payments now and start back up when its reaffirmed? I live in the state of Oklahoma. Thank you for any answers you can provide.
Submitted: 7 years ago.
Category: Bankruptcy Law
Customer: replied 7 years ago.

tulsa, Oklahoma
Expert:  Law Girl replied 7 years ago.

Thank you for your question.


In the bankruptcy, you must list all of your assets and debts that are not exempt from bankruptcy. In which case, you will need to list your vehicle and reaffirm the loan.


If you definitely want this item and can pay for it, you can reaffirm. It does have some positives as you will have no problem from that Creditor. But, remember if you do not fulfill, you will be sued and no bk will protect you.


Please let me know if you have any other questions, or require clarification. Otherwise, please hit "ACCEPT", so I may receive credit for my efforts.


Good Luck!

Law Girl and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 7 years ago.

Hi Kat-


Thank you for your answer! One of my questions was not answered, and if you could please answer this one I will accept your response so you can be paid. The question I am concerned about is: do I continue making payments on the car while the bankruptcy is happening? Logic tells me yes, so that I do not fall behind, but I would like this confirmed. Thanks so much and I look forward to your reponse.




Expert:  Law Girl replied 7 years ago.

Ultimately, the lender will probably require you to sign a reaffirmation agreement with them for the vehicle. Each dealer or lender has their own rules. Many times it may be best to continue making payments because the lender may be more eager to work with you in reaffirming the debt. However, keep in mind that if you are upside down in the car, the judge may not allow you to keep your vehicle. In which case, continuing to make payments could be for not. So, once you file, you may want to figure out, between the lender, yourself and bankruptcy attorney what the best way to proceed it.

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