What if I want to keep my car, even though I owe money on it?

Bankruptcy offers a process called “reaffirmation” that enables you to submit documents to the court stating your commitment to continue making payments on your car, whether it be owned or leased, as per the contract terms. By doing this, you will be able to retain possession of your car. However, if you default on future payments, there are consequences that you should consult with your legal representative about.