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  1. #1

    Default Chapter 7 and Auto Repo

    My question involves bankruptcy in the state of: CA.
    I have filed along with my wife for chapter 7 bankrupcy. My question is, i have a vehicle that i can no longer keep, and want to turn it back into the dealership. Will a chapter 7 erase that?

    They have told me that if I do that, then they would auction it off, and I would be responsible for the remainder if they dont get the money I owe. Is it possible that since I will no longer have the vehicle, that I dont have to pay that remainder on the loan, because me and my wife are really going through very difficult times.

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Chapter 7 and Auto Repo

    A chapter 7 discharge will wipe out any deficiency associated with the repossession.

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