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Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31170
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I live in Florida and I would like to file bankruptcy. I baught

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I live in Florida and I would like to file bankruptcy. I baught a house last year with my son, but I do not want to lose the house. I want to keep paying for the house. I also have a car which is not worth the price I am paying for right now, but I have 21 more payments to go. The question is if I go through with the bankruptcy will they take away my house. The 2nd part of the question is, is there a way to reduce the payment where I will only pay the blue book value and not what I owe on it.
Rahila Bashir
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 7 years ago.

You can keep the horse by entering into a re-affirmation agreement with the creditor. This would be the same process for the car, if you want to keep it. However, getting a reduction in the loan amount, you'll just have to negotiate with the lender.

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