Repo Question

[mommyto3+1]

I am new here and had a question...

We are planning to file a chapter 7 and was wondering if i should let my car be repoed. I have 4 kids and my minivan was a puchase with a 0% interest rate. I pay 512 a month and owe 27K on it. I am thinking of keeping it since with all the credit cards and medical bills gone after we file,we will have more than enough to pay it off afterwards. However I am not sure that is the best idea. I need a reliable van and mine is.

Any thoughts?

[Stilltheone]

Hi~

When we filed, we had an 03 Cadillac Escalade and we kept it. Our payments are $460/month at a 9% interest rate. I know it probably wasn't the best decision to keep it, but I still needed a vehicle and, once I filed, I knew there was no way I would be approved for something else.

I think you need to take a look at your finances and see if you can afford the payment.

Good luck!

[CindyLou]

4 kids + minivan with 0% interest= good idea!!!!

[Cali]

I would keep it.

[mommyto3+1]

Thanks everyone. I think I will.

C.