Eagle, CO Bankruptcy Law Firms & Lawyers

In order to file bankruptcy in Kentucky - you must meet the means test, You must list all of your assets and all of your debt. If you fall below the median income level for the area in which you live, you can file for Chapter 7 and discharge the debt. If the debt is secured with collateral, you will need to determine if you will keep the collateral, surrender the collateral or make other arrangements. That is a decision to be made with benefit of counsel. Seek out a competent bankruptcy attorney. If you don't qualify for Chapter 7 - you may be able to successfully complete a Chapter 13.

So it is not clear what you want. If you want to return the vehicle, call the lender and ask where you should take it to turn it in. If you wanted to keep the vehicle, you should have filed a motion to redeem the vehicle before your case was discharge. While the lender may pick up the vehicle at any time, they may decide never to bother doing this. But this decision does not mean the lender will turn over the title to you. That generous, they aren't?

The short answer is no. This is a required loan to pay. You are essentially paying your retirement plan back. If you stop paying on the 401k loan, you will be in default, and your 401k would probably have to be cashed, with penalties, to take care of it. Then, you'll be taxed on whatever isn't paid back. Before stopping your payments or cashing your 401k, you should talk to an accountant. And, if you have other debts as well, you should call a bankruptcy lawyer asap.