myFICO® Forums
Help
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 

Will i lose my car?

tag
Get Access Now
Anonymous
Not applicable
‎10-25-2017 08:44 PM
‎10-25-2017 08:44 PM

Will i lose my car?

Im looking to file chapter 7 bankruptcy to wipe out 62k worth of debt that i cant afford to pay. Most of it is credit card debt but i don't want to file bankruptcy, if it means we will lose our car.  I used my credit to secure the loan and my fiancee co-signed because she has a drivers license and i don't. The loan is 0% and has a perfect payment history of 2 years. What will happen? Will Nissan repo the vehicle?

Message 1 of 5
0 Kudos
4 REPLIES 4
Anonymous
Not applicable
‎10-25-2017 09:24 PM
‎10-25-2017 09:24 PM

Re: Will i lose my car?

Just let your attorney know that you want to reaffirm the car loan.
Message 2 of 5
0 Kudos
Kb109
Frequent Contributor
‎10-26-2017 05:20 AM
‎10-26-2017 05:20 AM

Re: Will i lose my car?

Are y'all current on your payments? Please consult some attorneys in your area (the consultations are almost always free) and ask them! They know your state's exemptions. If you are current on payments you will likely get to keep the car. Signing a reaffirmation agreement may be a good idea. Best of luck to you! I was just discharged from over $65,000 worth of CC debt last week and I didn't want to file either but now I wish I did sooner. You can rebuild!! Keep us updated Smiley Happy Best of luck to you! 

Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!
Message 3 of 5
0 Kudos
Kb109
Frequent Contributor
‎10-26-2017 05:21 AM
‎10-26-2017 05:21 AM

Re: Will i lose my car?

Ignore my question regarding being current or not. I just saw that you were (sorry, just now having my morning coffee). I think you'll be fine but ask an attorney please!

Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!
Message 4 of 5
0 Kudos
Scupra
Super Contributor
‎10-26-2017 11:11 AM
‎10-26-2017 11:11 AM

Re: Will i lose my car?

You should really look into a pay & stay. Since only one signer would be removed from responsibility I doubt they would repo the collateral. Especially if payments are continued on time

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
801 EQ FICO 06/2022
797 TU FICO 04/2022
793 EX FICO 04/2022
$30k NFCU Platinum | $30.7k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE | AMEX Gold | NFCU Platinum #2 $19.3k | Apple $8.5k
Message 5 of 5
0 Kudos
† Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.