Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
No, it does not mean your car will be repossessed if you "reaffirm" the car note. This means that you are filing bankruptcy, but are keeping your car out of the bankruptcy. You must be current on your car payments in order to "reaffirm". If you do not want to keep the car or cannot reaffirm, then you will have to list the note as a Creditor and surrender the vehicle.