is it possible to keep my car that am still making payments while i go chapter 7 for high credit card debt?
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The definitive answer is "it depends".Originally posted by fncbj
Look at the stickies at the top of the forums for some more info.
You basically need to look at two things: your income--take the means test, and your assets--determine which are exempt.*** THIS IS NOT LEGAL ADVICE--ONLY A LAWYER CAN PROVIDE THAT. ***
My posts represent hours of research on and off the web, these forums, my experience, and my opinions.Comment
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Ch 7 is referred to as liquidation.
If your equity in the vehicle does not exceed your allowed exemption amount, AND you're current on your payments, you should be able to keep your car.
What State? What kind of vehicle. Age/miles/overall condition?? Loan amount, if any?
That will help us help you.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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