Parkfield, CA Bankruptcy Law Firms & Lawyers

No, you cannot be Evicted from your apartment if you file bankruptcy so long as you are current under the lease. You must assume the lease while in your bankruptcy. Otherwise, your lease reverts to a month to month.

In a voluntary repossession (or surrender) the lender will sell the car at wholesale, and hold you responsible for the difference. In a bankruptcy, you can surrender the car and will not be responsible for any balance. However, unless you have other debt, (or the balance that will be left is very large) bankruptcy may not be your best choice. If you have any equity in the vehicle, you might be able to sell it for enough to pay it off, leaving no deficiency balance. You might also find someone who wanted the vehicle and could qualify to take it over ( which would require the lender's permission) or who could refinance it in his/her own name. DO NOT turn the car over to someone who agrees to make payments on your behalf.

Maybe you can file bankruptcy, but I would never recommend it and I certainly would not accept a case like yours. What if you get hit by a car or get sick and need substantial medical care that is not covered by insurance? And the reality is that based on your source of income, a creditor that might sue you probably could do nothing to actually collect from you.