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TylerDurden

PSECU AUTO / CC / SIG LOAN - Can you keep car in BK?

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If someone has a PSECU Credit Card, Signature Loan and Auto Loan

 

which are all Cross/Collateral

- meaning you have to pay for

all the loans off to get your car title.

 

Can you reaffirm your car loan in a BK in this situation?

 

Is it up to the bank?

 

Will they likely let you keep the car or likely take it?

 

The amount owed is exactly the KBB value.

 

thanks

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Just wondering though...depending on how much you owe PSECU on the other accounts, is it worth keeping the car instead of just discharging it?

 

You've mentioned already that you won't get the title until you pay all your debts with them back.

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A bankruptcy court will typically annul the cross-collateralization and allow the debtor to discharge the other debts but reaffirm the car.

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