Posted on: 05th Jan, 2011 12:19 pm
hello there. I filed for chapter 13. and kept my vehicle out of the debt schedule. I'm current on my payments. I've been paying the trustee monthly as well. but it's getting hard to keep up. My question is. If I were to take my vehicle back to the dealership so as not to have that monthly payment. would the amount I was paying for the vehicle a month be now added to the trustee payment instead.? I'm confused. and I gotta make a decision. can anyone clarify this for me. thanks
Hi abarcao!
Welcome to forums!
You haven't included your vehicle in your bankruptcy filing. In such a situation, if your return the vehicle to the dealer it won't get included in your bankruptcy filing. Rather, the dealer will sell off the vehicle to recover as much dues as possible and he will come after you for the deficient balance.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You haven't included your vehicle in your bankruptcy filing. In such a situation, if your return the vehicle to the dealer it won't get included in your bankruptcy filing. Rather, the dealer will sell off the vehicle to recover as much dues as possible and he will come after you for the deficient balance.
Feel free to ask if you've further queries.
Sussane