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How to File Bankruptcy Without Losing a Car
Whether you can keep your car in bankruptcy depends on the answers to these three questions
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The Motor Vehicle Exemption in Chapter 7 Bankruptcy
If you file for Chapter 7 bankruptcy, you will most likely be able to exempt (protect) some equity in your car, van, truck, motorcycle, or other motor vehicle. If you can exempt enough equity, you'll be able to keep your car.
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How to Value Your Car in Bankruptcy
Valuing your car, van, truck, motorcycle or other vehicle is an important part of a bankruptcy case; when you file for bankruptcy, you must include a list of everything you own and how much each item is worth.
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Will Chapter 7 Bankruptcy Prevent a Car Repossession?
If you are not making timely car loan payments, Chapter 7 bankruptcy cannot permanently prevent a car repossession. However, Chapter 7 can temporarily delay the lender from repossessing your car and allow you more time to negotiate or cure your default.
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Will Filing For Bankruptcy Get Back a Repossessed Vehicle?
Repossession of a vehicle is a stressful situation for anyone to have to face. If you’ve had your vehicle repossessed because you haven’t kept up with the payments, you may be wondering if you can get your car back by filing for bankruptcy.
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Should I Surrender My Car in Chapter 7 Bankruptcy?
If you owe money on your car and you file for Chapter 7 bankruptcy, you must decide whether you want to keep your car or surrender it.
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What Happens to a Car Lease in Chapter 7 Bankruptcy?
What happens to your car lease in Chapter 7 bankruptcy depends on whether you are behind on your payments and on what the bankruptcy trustee decides to do with the lease – the trustee can assume or reject the car lease.