When you file for bankruptcy, what happens to your car will depend on several factors. These include bankruptcy exemptions in your area, the type of bankruptcy you file, if you owe money on your car, and how much money you owe. In many cases, you will be able to keep your car as lo...
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...
There are many factors to consider when deciding whether or not to file. Some include whether or not your debts are legally dischargeable, should you keep your car and/or house and the effect of bankruptcy on your credit rating. The two most common consumer bankruptcies areChapter 7andChapter...
This means that should you default on your payments, the creditor has the legal right to repossess the property. If, however, you are current on your payments, you may have several options regarding your vehicle: reaffirming the debt to keep the car; redeeming the debt to keep the car;...
or lien against your home, a Chapter 13 bankruptcy can strip the liens from the property and convert. Your lawyer must register a unique movement with the court at the start of the procedures, but it is an alternative that may possibly save cash and invite you to definitely keep your ...
Chapter 7 also allows you to keep you car under certain circumstances. Since the car loan is secured debt, the bankruptcy court will not use your car to pay off your other debts. This leaves you with several options that can help you keep your car. You can reaffirm your old car loan ...
You’re looking for anattorney for bankruptcy in Denver… someone on your side for once. That’s all you really want, isn’t it? You want the phone calls to stop, the lawsuits to stop, the garnishments to stop. You want to keep your home and your car, to get a good night’s sl...
Try to keep your car and house after filing.Many people considering filing for bankruptcy worry that creditors could come after their car or house. While the laws vary by state, many consumers find themselves able to hang on to both assets. In Wisconsin, say Resop, if you continue to make...
Will I Lose My Car if I Declare Bankruptcy? 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 ...
State laws can, however, come into play in some cases, particularly in determining which of the debtor's assets are "exempt"—meaning that the debtor is allowed to keep them.4 There are 94 federal judicial districts throughout the United States, and each district has a bankruptcy court.5Fed...