We have filed Chapter 7 and we have our 341 this Friday. I was looking at my credit report and noticed that my car loan is "Included in Bankruptcy" with a "0" balance. What exactly does that mean for us. We are up to date on our payments, #40 out of 60, and were planning on keeping up the payments. Do we continue to pay, are we relieved of this debt, do we keep the van???. Any help would be appreciated. Thanks, TDP
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Since they've gotten notice of your BK, they've noted the account accordingly. They may not yet be aware of your intentions. Generally, you can sign a re-affirmation which obligates you to keep paying. If you don't pay, they can pursue you as if you'd never filed BK. Or you keep your payments up, keep the vehicle. If at some point you need to walk away from it, you can, because you don't owe it. (But you can't keep the vehicle & not pay for it. Not that you were suggesting it.)Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.
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