PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Can I file for Chapter 7 bankruptcy if I have a car loan?
Am I allowed to file for Chapter 7 bankruptcy if I still have a car loan? I need to file for Chapter 7 bankruptcy, but I'm unsure if I can when I still owe money to a lender.
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Finances can be challenging to navigate, especially when there are lenders involved. But you can file for bankruptcy when you have a
car loan
. Unfortunately, you might lose the car if you do.You can only keep your car in chapter 7 bankruptcy if your payments are up to date and you have enough income or savings to continue making payments. In some cases, your attorney will even negotiate lower monthly terms so you can keep the car. While your attorney finds out if you can keep the car, keep making payments. If you don’t, your car may be at risk of repossession.
To cut back on your car expenses while in bankruptcy, save on car insurance with
Jerry
. A licensed broker, the Jerry app can help you find and compare quotes from over 50 providers for free. Users *save an average of nearly $900 a year** on car insurance—so sign up and start saving today!View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies