Can I keep my car if I file for bankruptcy?
Normally, you can keep your car if you file bankruptcy. When you file that bankruptcy, the repossession if it’s pending, will automatically stop. That’ll give you some time so that you can decide what you’d like to do with respect to that vehicle. You can also negotiate with the bank to see if you can have your interest rate lowered or your payments reduced. After you enter into an agreement to lower the interest rate and reduce the payments, a court may want to take a look at that agreement and make sure that you can make those payments on that vehicle.