Bankruptcy chapter 7 question?

I have HUGE credit card debt, ( a mix of bad spending habits & living on cc when I was unemployed ). Question is do I need ( or forced to by the court ) to turn in my quads that I'm financing or could I make arrangments with the finance company to keep them?

Asked By: - 6/28/2007
Best Answer - Chosen by Asker
You need to claim all debts, including the quads on your debt schedule. However, you may reaffirm a debt if you want to, especially if it is something you need. The finance company will still be notified about the bankruptcy filing, even if you are able to reaffirm that debt. Just make sure you tell your lawyer you... More
Answered By: qtpie - 6/28/2007
Additional Answers (2)
usually not
Answered By: lost in summit - 6/28/2007
Your credit card is unsecured debt therefore your credit card company would have not ability to make you sell your quads that are financed through a bank in order to pay off your credit card. If you are ordered to pay off the credit cards by a court you should have some kind of monthly payment and/or due date for... More
Answered By: rweasel6 - 6/28/2007
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