Can I Keep My Car if I File for Personal Bankruptcy?
When you owe a significant amount of debt and you do not have options for paying it off, consumer bankruptcy could make a lot of sense for you. However, you likely have concerns about how certain types of property will be handled in your bankruptcy case, and whether you will lose property that you need. For example, if you rely on your car to get to work and to run errands such as going to the grocery store or picking your kids up from school, the prospect of losing your car can be devastating. As such, you may be wondering, “Can I keep my car if I file for personal bankruptcy?” The answer to that question may not be the same for everyone, and it will depend upon your particular circumstances. However, we want to be clear that you certainly may be able to keep your car if you file for personal bankruptcy , and we will explain how that can work. You Will Not Lose Your Car if You are Filing for Chapter 13 Bankruptcy First, if you are filing for Chapter 13 bankruptcy, you should know t...