Do I have to cover the difference between what I owe on my car and what the bank liquidates it for?

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I’m in the process of going through bankruptcy. I can choose to give up my car and the loan will be discharged or I can keep the car and keep making the payments. I need the car but the payments are expensive. I’m worried about being unable to make the payments over the next 6 to 12 months. If I don’t discharge the debt but then the car gets repossessed six months from now. Will the bank come after me for the difference in the loan amount and the liquidation amount? This is concerning because I will have no choice but to pay it since I will have been through bankruptcy only a few months prior.

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skippyjifluvr

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Posted: 1 year ago
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