Filing for bankruptcy often raises questions about the fate of your possessions, especially financed furniture. If you’re wondering, “Can I keep the furniture I am financing after I file bankruptcy in St. Paul, Minnesota?” – the answer is often yes, but it depends on several factors. This comprehensive guide will help you understand your rights and options regarding financed furniture during bankruptcy.
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When a person files a chapter 7 bankruptcy case, they must make a decision as to what they intend to do with their existing secured vehicle loans. Bankruptcy eliminates the debtor’s personal legal responsibility to repay a vehicle loan but does not eliminate the lender’s lien against the vehicle. Therefore, when a debtor files a chapter 7 case, they must choose whether to keep the vehicle and pay for it, or stop making payments, and surrender the vehicle back to the lender.
Filing for bankruptcy often raises questions about the fate of your possessions, especially...
A bankruptcy discharge is the statutory forgiveness of liability for the balance of a debtor’s...
When a person files a chapter 7 bankruptcy case, they must make a decision as to what they intend...
