To be able to keep your property that's collateral or security on a secured debt, you must give that secured creditor "adequate protection."
A creditor's rights over you in either Chapter 7 or 13 vastly increase if it has a security interest. Now's the time to find out for sure.
Chapter 13 cramdown doesn't just work for vehicle loans. You can also cram down debt for the purchase of "any other thing of value."
How Chapter 13 helps you keep personal property collateral on a debt (such as furniture bought on credit) for less money through cramdown.
To keep possession of your property that is collateral on a secured debt, you need to give the creditor "adequate protection."
When a creditor fails to enforce its lien in a Chapter 7 case, you are left exposed. Not so under Chapter 13.
Sometimes, even if what you bought is legally collateral on a debt, you can just write off and not pay the debt yet keep what you bought.
Stop secured creditors from taking your property, unsecured debts from turning into secured ones. Keep or surrender collateral as you wish.
Chapter 13 helps if you owe divorce debts, have personal property collateral, are behind on property taxes, or owe old and new income taxes.
Whether you can get your vehicle back depends on how long ago it was repossessed and whether you file under Chapter 7 or Chapter 13.
Chapter 7 deals with some debts better than does Chapter 13. But Chapter 13 deals with some other debts better than Chapter 7. So what kind of debts do you have?
Bankruptcy stops a vehicle repo from happening. But what then?
If you want to hold onto your vehicle, or other collateral, Chapter 13 makes it happen.