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 LawGuy Your Own Question
LawGuy, Attorney
Category: Bankruptcy Law
Satisfied Customers: 28539
Experience:  Over 25 years experience representing clients in business, transactional and real estate law.
Type Your Bankruptcy Law Question Here...
LawGuy is online now
A new question is answered every 9 seconds

I have several thousand dollars in debt from pass due bills

Customer Question

I have several thousand dollars in debt from pass due bills and credit cards. I also have a car in possession that i have not made a payment on in a long time. i wish to keep my car if at all possible.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  LawGuy replied 5 years ago.
It is difficult to keep the car because it is security for the loan and the lender is allowed to just take it if you miss payments. However, before attempting to file for bankruptcy (if that is your plan) you may want to call the credit card companies and see if you can get a reduced payment plan. Let them know this is a last resort to filing for bankruptcy. If they agree, that may free up some cash for you to bring the car loan current. I would not call the car company and say you are planning to file for bankruptcy because that will probably just accelerate the repossession.
Customer: replied 5 years ago.
so you think that i should call the credit companies. should i call the bank that i have my car loan through and just try to talk to them about starting my payments again.

Related Bankruptcy Law Questions