Can I keep my financed car if I file bankruptcy?If you file for Chapter 7 bankruptcy and local bankruptcy laws allow you to exempt all of the equity you have in your car, you can keep the vehicle—as long as you're current on your loan payments. ... They may also give you the option to pay off the equity at a discount in order to keep the car.
Will I lose my car if I file for bankruptcy?If you lease or finance a vehicle and file for bankruptcy, you can keep your vehicle as long as you are, and remain, current on your car loan or lease payments. Your car lender can, however, repossess your vehicle if you fall behind on your payments, and bankruptcy won't stop that.
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