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If you are considering Ch 7 but do not want to include a newly purchased vehicle are you able to still file?
Wiki User
∙ 12y ago
If you're considering Chapter 7, you probably shouldn't have bought a vehicle, which can be considered as asset and included int he bankruptcy. Last year, the government made it considerably harder to file Chapter 7. You should consult an attorney for legal advice on what to do.
check your state laws but if you are making payments and are not delinquent you are normally allowed to keep transportation vehicles for getting to work. however if it is paid for it will be considered an asset and IRS of your creditors can ask for it to be sold to satisfy your debt.
Wiki User
∙ 12y ago
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