Hello everyone. I have a question about bankruptcy and keeping my car (financed through Capital One). The car is my only one so its my transportation. I want to keep it and just keep paying on it. But I read in a couple forums here that it depends on the bank, and also if the judge allows it if it wont be too much of a financial burden to keep. And if your are upside down or not as far as its worth. In my case I owe about 11,900 and it blue books private party for 11,500. Im not sure how much of this is true, or applies to me so I thought asking wouldnt hurt. It will most likely be Chapter 7. My only income is social security disability, and my monthly car payment is about 23% of what I get each month. But thankfully I dont have any other expenses other than car insurance, my cell phone bill, and a bi-monthly $150 doctor appointment. (not counting the credit and store cards that I will be filing for). So what I am trying to figure out is this. Will I know before finalizing the BK whether or not I will be able to keep the car? Or will I have to fully file, then just see what the bank and/ or judge says? Basically I dont want to lose the car and just want to make sure Ill be able to keep it and keep paying for it if I do I file the Chapter 7. Thanks for the help.
