I would like to know what would be the best option in our case. My husband just got laid off and I'm only able to get part time work in our area. We can no longer afford our truck payments and was wandering what was better for our credit repo of the vehicle or bankruptcy? If anyone knows can u please tell me
Thank you

Well first of course try and sell the truck, after that if it does not work, if he is out of work, and it is going to be a while, there may be a lot more debts, more and more. So you may not want to consider bankruptcy till you know there are not going to be more debts or you have no other choice.

There is no saving a credit report after a repo or a bankruptcy, one repo is better than a bankrutpcy but it will put them all down

Fr_Chuck's advice is right on target.

Do everything in your power to sell the vehicle yourself.

Repo will cause less damage than the BK, initially.

The problem though is this, when the vehicle is repossessed, most states require that it be sold at auction. Not only that, at the auction, it is labeled as a repossessed vehicle.
This means it will sell for FAR less than it is worth, leaving you totally responsible for the difference between your loan, and the sale proceeds.

Then, the lender is most likely going to come after you for that difference. If they sue you, and win a judgment, then they will have the ability to levy bank accounts, and or garnish wages, if there are any.

If that happens, it will surely hinder your ability to meet the other financial obligations you still have.

Try to sell it first.
Repo should be a last resort.
If you do repo, you may end up having to file BK anyway on the unpaid balance of the loan.