Ask a Lawyer and Get Answers to Your Legal Questions
Hi and welcome to JA. I am Ray and will be the expert helping you today.
The creditors have top duke it out for the collateral if there are multiple loans.The creditor can just sue you here for money judgment if the collateral is claimed by another creditor first.
Chapter 7 here is a great way to discharge the debts.The collateral may be repossessed but thats about it.The debts go away and are discharged in such a Chapter 7.If you have many of these then this is the best way to wipe them away and start fresh.
I would strongly consider Chapter 7 since you appear to have several and need to discharge them here.
I appreciate the chance to help you today.Please let me know if you have more follow up.Thanks again.
Free forms with self help instructions for Chapter 7
Chapter 7 here takes about a year from when you file and get discharged.