My question involves bankruptcy in the state of: Illinois
Hey, Looking to possible file Chapter 7 in the next couple months. I live in IL. I currently rent. So no house to worry about. My main question is if I should keep the car I just bought about 4 months ago or let it go in the bankruptcy. The car has balance of $14K and about 67 months left of payments. It is a 2012 Hyundai Accent with 23K miles. I looked up the Kelly Blue Book value for trade in just to get an idea what it is worth now according to them for a dealership trade-in and it said in excellent condition (Which its in) it would be worth around $8K. So I am already down $6K in value. After 4 months. I am paying a high interest rate of 23.5% based on my poor credit and low $500 down payment.
So would you suggest I include this in my Chapter 7 or would lenders even possible let me refinance after all the rest of my debt is discharged to a lower rate? Do you think they would consider a refinance or a possible trade in given the fact they know I wouldn't be able to possible file again for another 8 years? The payment is high for me but I need to be able to drive. I just dont want to be stuck with a car that has already lost a lot of value in a short time frame with no possible refinance, if I could add it to the bankruptcy.
Thanks for any help.

