What to do With Your Car Following Chapter 7 Bankruptcy
- December 28, 2018
- Thomas Adam
- Bankruptcy
Contrary to what some people believe, it is not necessary to give away all of your belongings, including motor vehicles, after filing for bankruptcy. If you own a car and file for Chapter 7 bankruptcy, the chances are good that you will be able to exclude a certain amount of the vehicle’s worth. Unfortunately, if the vehicle’s worth is much more than you are able to protect, the bankruptcy trustee who is assigned to your case will likely sell and distribute the remaining proceeds. Chapter 7 [...]