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cfortunato, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy professor.
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If a debtor filing a chapter 7 BK has as financed car valued

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If a debtor filing a chapter 7 BK has as financed car valued at $11,500 and lien amount is $26,000. The monthly payment is $500. She wishes to keep the car. My question is can the trustee force her to give up the car?

cfortunato :

Hi JACustomer,

cfortunato :

If the car is worth less than the balance on the car loan, the Bankruptcy trustee will not want the car.

cfortunato :

I just realized my answer may not be what you were looking for. If you meant to find out if the trustee can force the debtor to stop paying the car loan and return the car, the trustee cannot do that either.


Thank you

cfortunato :

You're welcome!

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