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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2901
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Its been 11 years since my ex-husband and I filed bankruptcy.

Resolved Question:

Its been 11 years since my ex-husband and I filed bankruptcy. Now it appears that I am going to have to file again due to missing 6 months of work due to an injury/illness and also losing the part-time job I had obtained to pay off my growing credit card debt. I earned 2 masters degrees and now have student loans, but cannot get a better job using these degrees. I am unsure how long I will be able to continue working as a nurse with my rheumatoid arthritis. anyway... my question is.....
I currently have 2 car loans, one is co-signed by my fiance. If I file bankruptcy, will I be allowed to keep both car loans or will I lose 1 of the 2 cars?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 7 years ago.
Hi and thank you for your question. If you are current on the car payments, then you can keep the cars. you (or your fiance) will need to continue to make the monthly payments. You can choose to reaffirm the debt (staying responsible after bankruptcy) in order to keep the vehicles. I am assuming there is no equity in either vehicle. You can talk to a local bankruptcy attorney to review the available exemptions that you have to use for your vehicle. Thank you for your question and good luck.
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