Chapter 7 Bankruptcy allows you to eliminate “unsecured” debts such as credit card and medical bills, and utility bills, while allowing you to keep certain property. In most cases, people may keep their personal belongings, and their home, and car. Chapter 13 Bankruptcy is a court-ordered ...
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You might ask, “What happens to my home? What happens to my car during bankruptcy?” Believe it or not, these questions are common among people who are new to bankruptcy. So, what happens to your car during bankruptcy? Whether or not you can keep your car under Chapter 7 depends on ...
Can I file Chapter 7 bankruptcy and keep both my home and vehicle? Does credit counseling mean that I have to attend a class? Are there any non-bankruptcy options? What is Chapter 7 bankruptcy? Who FIles for Chapter 7 bankruptcy relief?
If you bought your car with a loan, your vehicle may be seized as collateral during a bankruptcy proceeding. However, you can usually keep your car byreaffirmingyour car loan and continuing to make payments. Similarly, you can usually keep your home if you declare bankruptcy, even if you ow...
Even if your creditors are currently pursuing repossession or foreclosure actions against you, filing for bankruptcy will put a stop to them and give you the opportunity to keep your car and home. At the law offices of [nap_names id=”FIRM-NAME-3″], we understand how troubling it can be...
A: If you file for Chapter 7 bankruptcy in South Carolina, you can usually keep your house and/or your car if you continue to make your monthly payments on time, and as long as there is no equity in your property above the exemption amount. ...
retained by the debtor. Nonexempt property is seized and liquidated to pay creditors. Property exemptions vary in each state. However, in many cases debtors are allowed to keep their primary home, personal possessions, and car. The trustee then oversees the liquidation of all other property.1...
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