Bankruptcy in PA

by George
(Reading, PA )

I have a motorcycle I got a loan on in 2008 not sure if secured or unsecured. Only Made a couple of payments. After like two years they jus stopped trying to contact me. Now I'm filing bankruptcy chapter 7 I included the bike but I also told them I wrecked the bike and is damaged pretty bad. I guess my question is when I go to my bankruptcy hearing what will happen?

Comments for Bankruptcy in PA

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May 11, 2011
Bankruptcy in PA

I am quite sure that the loan on your motorcycle is a secured loan and that the motorcycle is the loan collateral. I cannot tell you exactly what will happen at your bankruptcy hearing and I am not a bankruptcy attorney. However, it is my understanding that you will be at risk for losing the motorcycle in your bankruptcy unless the court decides that it's of little or no value and therefore could not be sold to help pay your debts. If you want a definitive answer to your question, contact a consumer bankruptcy attorney in your area. Click here for a free consultation with a bankruptcy attorney

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