Legal Question in Bankruptcy in Louisiana

please advise me of my rights...when I purchased my car in 2006, I was able to afford it. since then I have fallen on bad times, retired , and had to use what little savings I had in order to live. I am now on social security only and suffer from numerous medical problems which stops me from working. It is getting harder for me to keep my car payments up. I tried to go back to the dealership to get a older car and surrender the one I have now in order to lower payments. I was told that I would be upside down on my car and they couldn"t do it. Is there anyway I can keep paying lower notes on my car and still keep it. I have put so much money into it and since I am older and because of my low income status it would be almost impossible to get credit for another car. I do need transporation . Please advise. thank you...


Asked on 1/06/10, 11:43 pm

1 Answer from Attorneys
Adam Lambert The Law Office of Adam S. Lambert

If you qualify for a bankruptcy, you can file for bankruptcy. Still, you will have to either give up the car or confirm the payments, so it won't do you much good as far as the car goes. There is really nothing you can do. You can either give up the car or pay the notes. You can't keep it and not pay the full note.

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Answered on 1/12/10, 7:36 am


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