Legal Question in Bankruptcy in California

car reaffirmation

I have a 2007 Escalade that I don't want to get rid of in my ch.7 bankruptcy. I have an upside down lease with a monthly payment of $2200. $1500 is for the car and $700 for the negative on my trade in. Can the court remove the negative so that my payments are only $!500? Also, can I reaffirm the auto? No one will give me a new loan.


Asked on 9/30/08, 5:37 pm

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: car reaffirmation

I would safely guess that no bankruptcy court will approve a reaffirmation of a $1,500 vehicle loan. You probably can't afford gasoline for the Escalade, anyway.

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Answered on 10/01/08, 12:56 am


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