Overhaulin'

What happends to a car title loan if you file bankruptcy?

Would I still have to pay the title loan company? Could I keep my car? Help!

Public Comments

1. Lots of people think that once they’ve filed for bankruptcy they will be unable to ever get a loan again, and ultimately they are unable to do anything financial ever again. This isn’t always true, there are<!--always ways to improve your financial standing, and there are also ways to repair your damaged credit rating. http://best-loans.awardspace.com/Bankruptcy.htm In fact one of the best ways to improve your credit rating is to refinance your home mortgage, this-->will help to improve your credit history in a number of different ways.
2. From my understanding these are your only options. Since the title loan is a secured loan then you have two choices. First, reaffirm on the debt (that means pay it back) or second, give them your car (which is the security of the loan). Talk to your lawyer to make sure I am not missing anything, good luck!
3. If you want to keep your car you need to pay the title loan, otherwise if you want to not worry about that loan, surrender the car and get a "new" used car that is affordable.
4. it just falls into the package and will be determine by the courts == go see your bk lawyer and discuss you options!!!