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If there is a deficiency on the loan after they repo it and sell it, that's dischargeable in a Chapter 7. You can also elect to surrender it in What Is a Voluntary Car Repossession? Chapter 7 and Car Repossession?
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Don't make a financial decision without knowing the full picture, watch now to learn the truth about bankruptcy concerns. You can use Chapter 7 to give back a car or truck you cannot afford without financial penalty. When you choose to "surrender"
Can I Get My Car Back After Repossession? Bankruptcy is the only sure way to stop foreclosure or vehicle repossession in Virginia, but you must act immediately. Know you Will Chapter 7 Bankruptcy Remove A Lien Against A Vehicle Or My Does The Automatic Stay A Chapter 7 Bankruptcy Impact Repossession Action By Creditors?
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