Lots of debtors wonder if they can surrender vehicles or homes where they are upside-down with the loan and they no longer want to keep the property.  The answer to this question is “yes.”  Debtors do not have to continue paying on the secured debts that are secured by property that they do not want to keep.  If a debtor wants to surrender a vehicle or home, the bank will generally repossess the vehicle or foreclose the home and then the bank, if allowed under state law, can file a deficiency claim in the Chapter 13 case.  This claim will be treated as a general unsecured debt and in most plans will be paid out a small percentage of the total amount owed.


Tell Us About Your Case


Enter the characters above:

View Justin Myers' Interview on KSL's Studio 5

In addition to giving away this Free Book, Justin M. Myers offers a FREE consultation to discuss your options.
Call (801) 505-9679 today to make a face-to-face appointment or to set up a phone consultation. For most Chapter 13 cases, Justin M. Myers, Attorney-at-Law LLC charges NO ATTORNEY FEES UP FRONT, you only pay the Court filing fee.

Justin M. Myers

Justin M. Myers Attorney-At-Law, LLC

South Jordan Office

South Jordan Law Office
1122 W. South Jordan Pkwy. Suite A
South Jordan, UT 84095
Map & Directions

Provo Office

3651 North 100 East, Ste. 375
Provo, Utah 84604
Phone: 801-505-9679
Map & Directions