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Is it Possible to Write-Off Car Loans?

April 26, 2017car Loans possible write-off

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Is it Possible to Write-Off Car Loans?

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Whilst beyond the scope of this bankruptcy FAQ to cover all the different scenarios, a car loan can only be cleared if the car is returned to the lender. Car repossession deficiencies can be eliminated. Should the borrower wish to keep the car, this will require a reaffirmation of the debt under current chapter 7 bankruptcy laws. Repayments will need to be maintained until the loan is cleared.