At this point there are several options you can try to resolve the problem.

1. Go back to your car dealer. The first option is to return to your dealer and discuss the option of trading in your car for a less expensive one.
2. Refinance the car loan.
3. Sell your car.
4. In case of a lease.
5. The bottom line.

Which chapter bankruptcy will allow you to keep your possessions and require you to pay back some of your debt?

Chapter 13
This chapter of the Bankruptcy Code provides for adjustment of debts of an individual with regular income. Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.

What to do with your car in Chapter 13 bankruptcy?

You can give a car back to the bank. If you have a car payment that you can’t afford, or you’re making payments on a car that’s unreliable or needs costly repairs, it might make sense to let it go. In Chapter 13, you can get out from under the payment by surrendering the vehicle.

What happens if I Surrender my Car in bankruptcy?

If you surrender the vehicle within your bankruptcya repossession does not appear on your credit, and you can still eliminate the remaining debt within your bankruptcy.

What happens if you fail to make Chapter 13 payments?

If you want to continue with your Chapter 13 bankruptcy, you must make timely plan payments to the bankruptcy trustee every month. The trustee keeps a record of all payments you make during your bankruptcy. If you fail to make your plan payments, the trustee will file a motion with the court to dismiss your case.

Can a chapter 13 bankruptcy be converted to a Chapter 7 bankruptcy?

Proceeding with Chapter 7 bankruptcy and receiving a bankruptcy discharge are two different things. Just because you pass the means test and have a right to voluntarily convert your Chapter 13 to a Chapter 7 bankruptcy case doesn’t mean that you’re entitled to a discharge of qualifying debt. Why?