cancel
Showing results for 
Search instead for 
Did you mean: 

Will i lose my car?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Regular Contributor

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
4 REPLIES 4
Established Member

Re: Will i lose my car?

Just let your attorney know that you want to reaffirm the car loan.
Message 2 of 5
Frequent Contributor

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
Frequent Contributor

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
Super Contributor

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
740 EQ FICO 06/2018
750 TU FICO 06/2018
741 EX FICO 06/2018
$24k NFCU Platinum | $25k 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
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.