will the bank seize my car or force me to trade it in?

I’ve been a cab driver for 16 years and it’s my only form of income. I just bought a new car last year in the summer. I’ve been renting an apartment for the last 5 years, prior to that I was married and we owned a house. If I go bankrupt, will the bank seize my car or force me to trade it in for a junker just so the bank can get some money? I won’t be able to make as much money with an old car.

One Comment

  1. You can keep your car if you continue to make your payments. Filing bankruptcy doesn’t mean you will lose any of your property whether real or personal. Any secured debts such as car loans can not be discharged in bankruptcy. So in order to keep these items (Car) you have to continue to pay the car note.

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