When filing a chapter 7 bankruptcy will it make you ineligible for financial aid in the future? I have a secured loan and I believe I used my car (it is paid for) as collateral, if I file a chapter 7 and wanted to include this loan would they take my car? It is a 96 corolla. I have an Altima that i would want to include in the filing due to not being able to handle the payments. I would want to keep the corolla and let the Altima go back. I know fees vary from firm to firm but what are estimated fees for filing and once it is decided that you are filing, do you still continue to try an pay creditors or how does that work? Thank you for your help.