Is it at all possible to keep a boat through bankruptcy? Payments up to date (not late or behind on anything actually...yet). Loan is still upside down so lender definatly takes a loss if repo-ed. Thanks.
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The future is unwritten. J.S. -
If there is no equity and the loan/lien is legitimate, the BK trustee is not going to do anything with it, and if you are current on the payments the lender is not going to repo because of the BK.
The issue you may have is whether the monthly payment would be allowed as a legitimate expense in your budget.Last edited by HHM; 03-03-2008, 09:00 AM. -
And, of course, if you file Ch. 13 and it's approved, you can keep it.Comment
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Hey!! That last message made me a B/F Guru! My lucky day!
Funny, I don't feel any smarter.
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