If you get a car loan, and file a Bankruptcy within 90 days of getting the car loan, you may not be able to have the car loan discharged. This should not present a problem if you continue to pay the car loan. But if something unforeseen occurs, and you can no longer pay, the lender can collect that money from you.
Because of this possibility, if possible, it would be better to wait at least 90 days after getting the car loan to file a Bankruptcy. This way you can continue to pay the car loan, but if you cannot, the lender cannot try to collect the balance of the loan from you.
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When you get the car loan, you should carefully read the paperwork. Some car loan lenders put language into the contract that will allow them to repossess the car if you file a Bankruptcy, even if you are making all the payments on time - unless you sign a re-affirmation agreement.
Signing a re-affirmation agreement means the loan is not discharged in the Bankruptcy, and you are agreeing to remain liable for that loan.
If your car loan contract does not have this language in it, the lender cannot re-possess the car if you file a Bankruptcy and do not sign a re-affirmation agreement, as long as you continue to pay the car loan.
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