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  1. #1

    Default Can I Add My Car to a Bankruptcy After Discharge

    My question involves bankruptcy in the state of: Georgia

    Hello,

    On August 25th, I was in a car accident. I'm not sure if my car is totaled ( I'll find out soon) but in the event if it IS TOTALED, can I add my car to my chapter 7 which was discharged October 2017?

    Next question, If I can add it to my bankruptcy , will by discharge date change? Or Will it still be October 2017?

  2. #2
    Join Date
    Jan 2006
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    37,430

    Default Re: Can I Add My Car to Bankruptcy

    This was a car you owned at the time of the BK?

    What was the disposition of the car in your bankruptcy?

  3. #3
    Join Date
    Sep 2010
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    18,230

    Default Re: Can I Add My Car to Bankruptcy

    Is there a loan on the car? If so, it MUST be listed.

  4. #4

    Default Re: Can I Add My Car to Bankruptcy

    Yes it was my car. I decided not to put it on there. I forgot what the name of the term was.

  5. #5
    Join Date
    Jan 2006
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    37,430

    Default Re: Can I Add My Car to Bankruptcy

    Quote Quoting kennethwilder1
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    Yes it was my car. I decided not to put it on there. I forgot what the name of the term was.
    It had to be listed in some way. All assets and debts must be listed in your bk.

    By chance are you thinking of reaffirmation of the loan?


    Was there a loan on the car then? If so, is it the same loan you currently owe?

    do you have insurance on the car?. Is insurance required by your loan contract?

  6. #6

    Default Re: Can I Add My Car to Bankruptcy

    Yes , it was a reaffirmation. My car is financed through capital one auto. I had insurance at the time of the accident the other person hit me. It's the same loan I currently owe.

  7. #7
    Join Date
    Jan 2006
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    37,430

    Default Re: Can I Add My Car to Bankruptcy

    So,generally one makes a claim on their insurance or the other party’s insurance and pays their loan. Is there some reason you don’t do this?

    and while I’m not certain, I don’t believe a court will reopen a bk to add this reaffirmed loan to discharged debts. They reopen bk’s to address forgotten creditors and a fee various other reasons but this particular debt was already addressed so I would suspect the court would not reopen the bk for the purposes you seek.

  8. #8
    Join Date
    Oct 2014
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    6,553

    Default Re: Can I Add My Car to Bankruptcy

    Quote Quoting kennethwilder1
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    Yes , it was a reaffirmation. My car is financed through capital one auto. I had insurance at the time of the accident the other person hit me. It's the same loan I currently owe.
    You reaffirmed the car loan in the bankruptcy, which was approved by the lender and the court. That exempted the loan from the discharge and the trustee made no claim to the car for any other creditor (probably because there was no equity.) The bankruptcy closed after the other debts were discharged. Now a year later you had a wreck with the car and are evidently concerned that insurance won't pay off the full balance owed on the car and would like now to have that debt included in discharge. But it's too late for that. You made a decision to reaffirm the debt and not have that debt covered by the discharge. In doing that, you took the risk that something like this would happen in the future. That may have saved your car from being taken by the lender in the bankruptcy, but it exposed you to risk that you'd end up owing the creditor in a circumstance like this. You don't get to have it both ways — i.e. you cannot reaffirm the debt to save the car and then after the bankruptcy go back and get that debt discharged when circumstances make that better for you.

  9. #9
    Join Date
    Sep 2010
    Posts
    462

    Default Re: Can I Add My Car to Bankruptcy

    This:

    Quote Quoting Taxing Matters
    View Post
    You reaffirmed the car loan in the bankruptcy, which was approved by the lender and the court. That exempted the loan from the discharge and the trustee made no claim to the car for any other creditor (probably because there was no equity.) The bankruptcy closed after the other debts were discharged. Now a year later you had a wreck with the car and are evidently concerned that insurance won't pay off the full balance owed on the car and would like now to have that debt included in discharge. But it's too late for that. You made a decision to reaffirm the debt and not have that debt covered by the discharge. In doing that, you took the risk that something like this would happen in the future. That may ha:ve saved your car from being taken by the lender in the bankruptcy, but it exposed you to risk that you'd end up owing the creditor in a circumstance like this. You don't get to have it both ways — i.e. you cannot reaffirm the debt to save the car and then after the bankruptcy go back and get that debt discharged when circumstances make that better for you.
    Couldn't have said it better.

    Des.

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