Standish, CA Bankruptcy Law Firms & Lawyers

Most likely yes. You will, of course, have to continue your payments to the bank on both car loans. The car loans are secured debts. Only unsecured debts are dischargeable (with exceptions). If you do not pay the bank it can reposses the cars 30 days after the meeting of creditors unless the bank gets permission from the bankruptcy court to do it sooner. You might have to reaffirm the car loans although that is something that should be carefully considered since you will be liable for any deficiency should you later have the cars repossessed. Of course if you have other vehicles without loans you will have to justify to the trustee keeping cars with loans instead of surrendering them, particularly if you have no equity in the cars.

Adversary complaints can be brought in Chapter 13 as well as in Chapter 7 cases. However, in both Chapter 7 and Chapter 13, if the creditor fails to file the complaint before the expiration of the deadline to do so, the creditor will be out of luck. Even so, this complaint must be dealt with seriously.

If the only debt that you had to deal with was past due mortgage loan payments and the modification on the mortgage loan dealt with curing the past due mortgage loan payments then there should be no reason to stay in the bankruptcy. If you have other debts to be paid then you would want to remain in the bankruptcy.