Legal Question in Bankruptcy in Kentucky

Filing on a CNAC financing loan

I bought a vehicle in Kentucky through a J.C. Byrider, due to numerous repairs, high payments, and a new high rent I do not have the money to pay for it now. They refuse to take it back, and I can't afford to pay for it. Can I file bankruptcy on it?


Asked on 1/24/04, 8:59 pm

2 Answers from Attorneys
E. Brian Davis Davis Law Office

Re: Filing on a CNAC financing loan

There does not appear to be any problem in discharging your debt on the car in a bankruptcy. Remember, however, that when you file a bankruptcy,you have to list ALL your debts (and all your assets). Debts can be treated differently: for example, you can give the car back and let that debt be discharged, but reaffirm on your house, keep making payments, and keep the house.

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Answered on 1/24/04, 10:26 pm
John Rogers John Rogers, Attorney at Law

Re: Filing on a CNAC financing loan

Yes you may. What county in Kentucky do you reside in?

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Answered on 1/25/04, 12:46 am


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