Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - If you file bankrupt can items such as cars and motorcycles be repossessed even if they are owned out right? - My ex has been laid off for over a year now because of the economy (he was a union carpenter for the last 10 years). He has been having a hard time paying his mortgage on unemployment alone. He got a room mate but is still struggling. He is considering letting the house go into foreclosure and filing bankruptcy. I feel like he should try to save his credit and modify his loan and/or rent the house to someone who can afford to pay at least most of the mortgage...he can stay with family for free for a while. He said the bank told him that he wasn't eligible for any of the new bailout programs until he went delinquint on his payments, so he began making his payments late on purpose about two months ago. He is under the impression that he can keep his motorcycles and vehicle since the loans are paid off even if he files bankruptcy. That doesn't sound right to me...I would think that he would have to surrender valuable possessions in order to pay down the debt. Anyone have any knowledge about this in the state of Washington? I hate for him to lose his house for my son's sake... Where does your daddy live little boy? Umm...He lives in his parents basement. ACK! -
