Hold on to Your Car in Bankruptcy

February 15, 2011  |  

(Bankrate) — If you’re considering bankruptcy, it can be hard to decide what to do with your car loan. You may have difficulty paying all your debts, but at the same time, you want to keep your vehicle.  In fact, it could be nearly impossible to get back on your feet financially without the use of a car, which is often needed to travel to a job and earn money, says Andrew Radmin, a bankruptcy attorney with Carkhuff & Radmin in North Plainfield, N.J.  Fortunately, it is possible to keep a car in bankruptcy. “For people who have a vehicle, are financing it and want to keep it, there’s a method that can be used for them to continue to make payments and maintain the car they own,” says Radmin.

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