If I file Bankruptcy, can I keep my car?
In most cases, you can keep your car. It depends on how much equity [the value of the car minus any lien(s)] is in the car and if you can afford the payments (if any). If you owe money on your car, the equity cannot exceed $3,775. If it does, then you may still be able to keep the car depending on your situation. You must be current on your payments and you must keep making the payments.
If you do not owe any money on your car, then you can keep it if the value does not exceed $3,775. However, if it does, you still may be able to keep it depending on your situation.
Please call our office for a FREE initial consultation to discuss whether Bankruptcy will work for you.