Seattle, WA asked in Bankruptcy for Washington

Q: I owe 23K on a car worth about 18K- payments are current will I be able to reaffirm this debt in CH7?

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2 Lawyer Answers
Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: Yes, if that is what you want to do.

Kevin M Rogers
Kevin M Rogers
Answered
  • Bankruptcy Lawyer
  • Boise, ID

A: Yes, as long as the Court feels like there are other reasons why you're "insolvent" other than just one, huge car payment on a car that you're upside down on. The more important question though: why don't you just become less vain and buy something you can afford to pay cash for? Chapter 7 is SUPPOSED TO BE a FRESH START for you. How will you feel when you get all done and you're still struggling to pay that car payment? Not much of a "fresh start" I'd say.

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