Should I surrender my car in my Ch. 7?

[pdxgrrrl]

I'm finally going to file for Chapter 7 later this month and the last thing I really need to think about is what's going to happen to my car. I have a 2004 Chrysler PT Cruiser. Got it brand new in 2005 and my monthly payments have been $288 plus $111 for insurance. (Plus gas, plus maintenance, plus....) I still owe about $5000 on it and the trade-in value is about the same. Right now, I'm only working 10 hours per week and my financial situation has deteriorated to the point where I can either afford the car or rent. I could afford both, possibly, but it would mean living off of ramen, not having a phone, and not being able to afford gas for the car. I am moving this month to a better location (downtown as opposed to the suburbs) and everything I need (groceries, etc.) is within walking distance. (I'd still need to take public transit to get to work.) Another option is moving back in with my parents to keep the car, but I'm going to be 30 next month, so living at home really isn't too much of an option.

I love my car, so I kind of don't want to give it up, but I need to be practical. I'll probably want to get a car when I get a job again, but with the BK, I imagine that will be rather tricky.

If anyone has some opinions/advice, please share. This is a tough decision, especially since I don't think my financial situation will be improving anytime soon. Thanks.

[chad9162]

If you have no job then a car & car payment is the least of your worries. It sounds like you'll survive without it. Some of us could not do w/o a car so we'd give up the things you mentioned.

There's nothing wrong moving back with parents to get back on your feet. I mean how are you going to pay rent with no job?

[Looking4ward]

There's nothing wrong moving back with parents to get back on your feet.

I was thinking the same thing.

As sucky as it may be, just remember that it's temporary.

Best to you, pdxgrrrl.

[Meh]

Move back home if your parents are cool with it. Sometimes pride has to be put behind us.

[StartingOver08]

I agree with the others, now is the time to really get your fresh start. Dump the car (surrender in the CH 7). Get rid of every expense you can until you have stablized your income. If you can move in with your parents until you get back on your feet, do so. Right now it is more important for you to get on your feet then to have an apartment rent that would be an added burden. Besides...our children are our children forever! (My children are 30 yrs old and 21 yrs old! They are always our babies...).

Take advantage of this time to regroup and get strong. You can do it.