People often ask if they can keep their car or house when they file for Chapter 7 bankruptcy.  These are know as secured loans.  In Connecticut, the answer is yes, as long as you keep making your monthly payment and as long as you can exempt the value of the property.  The underlying debt is technically discharged, but if you want to keep the house or car, you have to continue to make the payment.  If you don’t make the monthly payment, the lender will probably repossess at some point, but your obligation on the underlying debt remains forgiven if you get your bankruptcy discharge.  If you want to analyze your ability to keep your car and loan through bankruptcy, please feel free to call Attorney Mark O. Grater in Groton, Ct., representing all of New London county and beyond, at 860-449-8059 or go to www.graterlaw.com.  Please note that in Chapter 13 bankruptcies, where you make a payment each month to the Trustee, similar rules apply and you can also use the Chapter 13 to catch up arrearage payments.