How can I surrender my car in Chapter 7 bankruptcy?
If you are considering surrendering your car in a Chapter 7 bankruptcy, there are a few things you should know. First, you must be current on your car loan payments. If you are behind on payments, the lender may not accept the surrender. Second, you should contact your lender to let them know of your intention to surrender the vehicle. This will help to avoid any potential issues with repossession. Finally, be sure to get a release of liability from the lender once the vehicle has been surrendered. This will protect you from any further financial responsibility for the car.
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