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...
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;...
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...
The new bankruptcy law, gives dealers 30 days to complete title work and record the lien on a vehicle title. The new law also requires consumers who file for bankruptcy within 30 months of financing a car or truck to pay off the loan in full to keep the vehicle. If a dealership misses...
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 sleep and enjoy life again. That’s us. We help people who have been blindsided by life’s unexpected events secure their financial futu...
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 ...
Equity in your house up to a certain amount, which youmay be able to keep. Equity in your car, which means you may beable to keep it. Ordinary household goods and personal property. At Bond & Botes, we stay up to date on all the developments and changes in state and federal exemption...
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 ...
Exempt assets are generally those that are necessary for day-to-day living and earning income such as an inexpensive car to drive to work, furniture, and clothing. Social Security benefits, unemployment benefits, and retirement accounts are also generally exempt but it can vary by state.5 Both ...