Legal Question in Bankruptcy in California

It is not clear what you mean by including it in the bankruptcy. If the vehicle is Paid in Full then you must include the vehicle in your list of assets. If you are making payments on the vehicle then you must also list the vehicle in your bankruptcy petition and indicate whether you intend to reaffirm the debt or surrender the vehicle. When you reaffirm a debt you make yourself personally liable for repaying the debt even after the bankruptcy. In order to keep the vehicle creditors generally require that you reaffirm the debt.

If you need further information about Chapter 7 Bankruptcy: http://www.socaladvocates.com/chapter7

I supposed what you mean by "include it in the bankruptcy" is whether you can keep your car when you file bankruptcy. When you file bankruptcy you don't get to decide what to include in the bankruptcy. All of your assets and debts are included whether you like it or not. So to answer your question: Yes, you can keep your car in bankruptcy. So long as you stay current on your payments, chances are you will get to keep your car.

Amir Aalam

Aalam Law Firm

www.sandiego-bankruptcylaw.com

(858) 461-0049

It sounds like your question is: "Can I get rid of the new car loan in bankruptcy and keep the car?" The answer is "no." Either you continue to pay on the car, or you surrender it to the creditor without any further financial obligation. You must list ALL of your assets and debts on your bankruptcy schedules.