Thursday, 5 February 2015

we bough a 2011 chevy used we owe 11000 on it can we keep this car under chapter7

Question

we bough a 2011 chevy used we owe 11000 on it can we keep this car under chapter7



Answer

It's quite possible, but it depends upon other factors such as the amount of money that the vehicle is worth and other personal property that you may wish to keep through a bankruptcy proceeding. An additional factor is who will be filing for bankrtupcy protection, that could change whether the car is exempt or even a part of the bankruptcy at all.

You should consult with a local bankrtuptcy attorney regarding this issue. Most offer free initial consultations.

Best of luck.



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