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I have a car (or a house, or furniture, electronics or appliances)
that I do not want to keep. What can I do about that? |
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| In both Chapter 7 and Chapter 13 you have the absolute right to give any secured property back to the creditor. That may or may not wipe out the debt completely, but if there is any remaining debt it is no longer a secured debt; it becomes a general unsecured debt. (See FAQ on the Difference between Secured and Unsecured Debt for more explanation. Also, see the section on Repossessions and Foreclosures for discussion of what happens to the property and to the debt.) |
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