Cactus, TX Bankruptcy Law Firms & Lawyers

Provided you can afford to make the payments and your equity, assuming there is any, in the car fits into one or more of 3 possible exemptions (depending on other facts) you can continue to pay & keep. There may be options such as: redemption, reaffirmation and surrender. Which one makes sense will depend on other facts not disclosed. Please don't rely on answers here in making a decision whether to file for bankruptcy. Even with the information you provided there are other considerations such as income & living expenses, perhaps there are some other assets you haven't even thought as assets, how much in medical debt you have & whether there may be a way to settle the medical debt outside of bankruptcy, etc. and other things to think about in figuring out whether filing bankruptcy makes sense for you and what results you can expect.

In Texas, you can walk away at any time because of our constitution. You have no personal liability on the loan. That is why you cannot reaffirm a home mortgage in Texas. Reaffirmation means accepting personal liability for the mortgage and agreeing that you will not walk away in the future.

You cannot file bankruptcy on most student loans and if you are co-signer you will be responsible for these debts. Also, the lenders are probably reporting the non-payments on your credit reports so you should help as much as possible to protect your credit