OR has declared no interest in car

Crazydennie

I am thinking about giving up my car that the OR has declared no interest in but i still have 19k in finance on it.  Debt was incurred before bankruptcy and car is worth around 15k.

Would this negative equity be written off in the bankruptcy if the OR has declared no interest? 

ManyWays

yes if you hand back the car.

Otherwise yes, the debt will be written off. but if you fail to make the payments then the finance company can exercise its security and repossess the car.

maxmycardagain

id have thought after the date OF the bankruptcy "new" debts are NOT included in the BR,,,

Crazydennie

This is a debt from before my bankruptcy.  I have not taken any further debts or agreements out.

Minkym00

maxmycardagain said:

id have thought after the date OF the bankruptcy "new" debts are NOT included in the BR,,,

It's a contingent liability and the shortfall would be included in the bankruptcy.