Detroit, MI asked in Bankruptcy for Michigan

Q: frbp 2004 coming up for my chpt 7. i have a vehicle behind on payments. dont have full amount. will i loose the vehicle

i filed aug 2019. bank wants full amoint behind before they will reaffirm. bank closed account as soon as bankruptcy filed. I offered them paymemts but they wouldn't accept? what to expect? what do i need to do to keep vehicle?

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2 Lawyer Answers
Trent Harris
Trent Harris
Answered
  • Bankruptcy Lawyer
  • Jackson, MI
  • Licensed in Michigan

A: Well, your other version of this question on Avvo said you are converting your Ch7 to a Ch13. Kurt O'Keefe gave you a very good answer on Avvo about looking into redemption.

I would add to what he said that if you are converting to Ch13, you need to put forth a proposal in your Chapter 13 plan to cure the arrears on the car loan, and then to maintain current payments so you can keep the car. The success rate for people who try to do Chapter 13 cases on their own without an attorney is extremely low. Hire an attorney to help you with your case if you want to have a fair chance of keeping your car and getting through a Chapter 13 plan to discharge.

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

A: You’ll need to come to some agreement with the creditor to pay the arrearage if you want to keep the car.

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