It depends on the agreement. If your car is subject to an unsecured fixed sum loan agreement then you would stop making payment to the finance company and the debt owed would be included in your bankruptcy. If it is subject to a Hire Purchase, Conditional Sale or PCP agreement, then it will be secured against the car and you would continue paying this if the Trustee agreed to the monthly expense. Please contact us for further advice.
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected.
Free debt counselling, debt adjusting and providing of credit information services is available to customers by contacting MoneyHelper.