Just how to File Bankruptcy Without Losing an automobile

Just how to File Bankruptcy Without Losing an automobile

Learn to utilize bankruptcy to eradicate your financial situation without losing your car or truck.

Whether you are able to keep your automobile in bankruptcy will depend on the answers to those three concerns:

(1) have you been filing for Chapter 7 or Chapter 13 bankruptcy?

(2) have you been behind in your vehicle re payments?

(3) may be the equity in your car or truck exempt?

Keepin constantly your Automobile in Chapter 7 Bankruptcy

In Chapter 7 bankruptcy, most of your debts are https://speedyloan.net/reviews/dollar-loan-center/ released (canceled). In exchange, you have to stop trying nonexempt home — the bankruptcy trustee offers the home and makes use of the profits to pay for your unsecured creditors.

Whether you can keep your vehicle in Chapter 7 is determined by (1) whether your equity is exempt, and (2) whether you’re behind in payments. (more…)

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