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Roger
Roger, Attorney
Category: Bankruptcy Law
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I give up car and home with chapter 7

Customer Question

I give up car and home with chapter 7
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 6 years ago.

You can give up your car and home during bankruptcy, or you can re-affirm the debt, continue to make payments, and keep either or both of them.

 

However, if you miss a payment or otherwise default on the loan, the lender can foreclose on the note and sell the property.

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