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dannie2012

What happens if I can no longer make my car payment and they take my car away? Would I still pay the loan later on in the future?

I am starting going through a tuff time and I think I am not going to be able to make my payments no more. So I am wondering what's going to happen if I can do bankruptcy?

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If your car is repossessed, (been there) they auction it off & bill you for the rest!
In my case, it was over $10,000 & my car was in perfect shape!
It was 25 years ago but, it's still the same!
You can save some fees by turning the car in voluntarily, (that's what I did) it saves towing fees etc...

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They take the car sell it and then your responsible for the difference. You then include that owed money in your bankruptcy. If the car is worth what you owe on it your much better off selling it yourself

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dannie2012
It really works? I mean about the bankrupt part?
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Monster has good advise talk to a bankruptcy lawyer to find out what would be the best thing to do in your situation
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dannie2012
Wow! Thanks for you advice!
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dannie2012
Did you mean Monster.com?
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Bankruptcy will allow you to keep some assets. Before you do anything, consult a lawyer. You will be surprised at the results. They don't make you destitute and without a home or transportation. Your credit will take a major hit for seven years.

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