Lufkin, TX Bankruptcy Law Firms & Lawyers

You can file bankruptcy any time you want (assuming you are eligible to file under a given chapter). Whether it is "too late" or not depends on what it is you're trying to accomplish, and you don't provide enough information to even begin answering that question. For example, if your goal is to stop the foreclosure sale and use bankruptcy to catch up on the payments, then it is too late to file after the foreclosure sale has taken place. If your goal is to discharge any deficiency you owe under applicable state law after the foreclosure sale, then it's never too late to file, although there can be significant tax consequences depending on when you file your case.  You would need to discuss that with a tax attorney who has bankruptcy experience. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  

It sounds to me as though your car company is trying to pressure you into filing A reaffirmation agreement. My advice is to leave the bankruptcy closed. As long as you keep making your monthly payments they should not be allowed to repossess your vehicle. You do not have to file any statement of intention in order to keep your vehicle. A reaffirmation agreement only favors the creditor in most circumstances.