California | Bankruptcy
3/11/09, 11:12 am
Legal Question
Bankruptcy - What happens to car loan
My boyfriend is currently in jail and I've been paying for his car expenses (the monthly loan, insurance, and DMV registration). The car loan is in his name only. We've only had the car for a year and the payoff amount is around $30,000. So there is still 4 years left to pay on the loan. We don't know yet how long he will be incarcerated (case is pending), but obviously he isn't working and isn't paying his credit card debt or his personal loans (which total about $25,000). First question is should he file bankruptcy now, or wait? Second question is if he does file for bankruptcy, will I be able to keep the car if I continue making payments on it? Thank you.
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