QUESTION
If we file bankruptcy, can we keep or cars and RV as there is no equity on any of them and we will have to live in the RV?
Asked on Jun 27th, 2017 on Bankruptcy - Oregon
More details to this question:
We are not late on any payments except for $40,000 in medical emergency debt.
5 ANSWERS
So long as payments are kept current, yes.
Answered on Sep 16th, 2017 at 7:36 AM
1 Award
Yes, as long as you stay current on payments, you can keep those items.
Answered on Sep 16th, 2017 at 7:35 AM
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You can keep them so long as you keep paying for them. You may want to reaffirm the obligations if you can afford them, since that helps improve your credit score (so long as you are making timely payments). Also if you continue paying but do not reaffirm, and then should later miss a payment, the creditor could then repossess the collateral.
Answered on Sep 16th, 2017 at 7:35 AM
As long as you can demonstrate that you can afford the payments on the vehicles, you should be able to keep them.
Answered on Sep 16th, 2017 at 7:35 AM