QUESTION
How will my title loans be handled if I file for bankruptcy?
Asked on Jun 25th, 2012 on Bankruptcy - California
More details to this question:
If I file Bankruptcy,how will my title loans be handled?
2 ANSWERS
Immigration Attorney serving Arlington, TX
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Law Office of Pho Ethan Tran, PLLC
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Title loans are secured loans which means that the lender can seize the property to payoff the loan if you fail to make payments, even in bankruptcy.
Answered on Jul 09th, 2012 at 2:04 PM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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It depends on your loans. The question depends on whether you have a first, second or third loans. If so, how much of those loans are secured by the property. If you have property that is underwater, you may be able to get rid of the loans which are not secured any more. that will require some work, including property valuations, but it may be possible.
Answered on Jul 06th, 2012 at 8:15 PM