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Hi Everyone,
I filed for Ch.7 on Friday 2/1, initially I wanted to keep my car it's a 2015 Sentra with 14443 left on the loan. It's only worth 7 something. I'm going back and forth on whether or not I should keep the car. I have zero interest on the loan so all my payments go straight to the principal.
I just want others opinions and experiences.
Also, what are other people experience with Nissan and not reaffirming with them?
Thank you in advance.
-Ash
Almost 50,000
A car repossession, on many levels, can be even more damaging to your future credit life than even a bankruptcy. I would avoid a repossession at all costs.
On one hand, you have a newer car with zero interest... on another hand you have a car worth a lot less than you owe. Up to you to decide... but the smart money would be to turn it in. If you don’t have a way to get another you may not have an option...
I didn't know it was up to the trustee.
So even if I've never been late and paid on time the trustee still might not let me keep it?
Yes, you would have to have approval to keep the car...