Mason, TX Bankruptcy Law Firms & Lawyers

Yes, you usually can keep your car when you file a bankruptcy. Most car lenders allow you to keep the vehicle as long as you are up to date in the payments, and have full-coverage insurance. Also, in most cases, the car lender will require you to sign a "reaffirmation agreement" for you to keep the car and still be responsible for making all the payments. It is important that you talk to an experienced bankruptcy attorney to review your whole situation and how a bankruptcy case would work for you.

A chargeoff is merely a bookkeeping entry.  It has nothing to do with whether or not you still owe a debt, or whether the creditor can take collections actions on it. Student loans are generally not dischargeable in bankruptcy.   You can seek an "undue hardship" discharge of the student loans by filing a complaint in your bankruptcy case, but the criteria you need to prove for this is very difficult. There are also non-bankruptcy alternatives, such as doing income-based repayment plans, but you have to get your loans out of default first in order to take advantage of such programs. I suggest having a consultation with a bankruptcy attorney in your area who is experienced with student loan litigation, to evaluate your options more fully. 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.  

A deed in lieu is asking the mortgage company to do a favor for you so they are entitled to ask for whatever they wish in exchange for this favor. I suspect you might do better with a short sale instead.