answersLogoWhite

0


Best Answer

perhaps not. If the courts determine that the value is too great and that the car and/or motorcycle are not necessary for you to maintain employment you may be forced to turn over one or both.

User Avatar

Wiki User

โˆ™ 2005-09-12 20:30:52
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides
๐Ÿ““
See all Study Guides
โœ๏ธ
Create a Study Guide

Add your answer:

Earn +20 pts
Q: If you file Chapter 7 are you allowed to keep a car and motorcycle that are paid for?
Write your answer...
Submit
Related questions

Are you allowed to keep your primary home and investment property if file you chapter 7 or 13?

If I file chapter 7 or 13 how long can I stay in my house?


Can you keep your cars when you file for chapter 7?

Yes, in most cases, a person can keep their cars when they file for Chapter 7 bankruptcy. It will ultimately depend on the bankrupt court.


In chapter 13 can you keep a motorcycle?

Yes...You have to Re-Affirm your loan..Talk to your Attourney


Can you keep your vehicle if you file chapter 13 bankruptcy?

yes


Can you keep your home if you file chapter 13 bankruptcy?

yes


Can you file chapter 7 in Florida and keep your home and property?

No


If you have 2 cars in your name but 1 is for your fiance will they both be taken if you file chapter 7?

The vehicle that is protected by the state or federal exemption is the one which the debtor will be allowed to keep.


Can you keep your home if you file a chapter 13 bankruptcy?

Yes, as long as you keep making the payments.


If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?

Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.


Can you keep your checking account when you file for bankruptcy?

Can u keep your checking account after filing chapter 13?


What chapter of bankruptcy makes you give up everything you own?

Chapter 7 bankruptcy is for an individual, company or corporation and will stop collection attempts in exchange for giving up assets. This type of bankruptcy is for people who can not afford to pay their debts. Sometimes people who file chapter 7 are allowed to keep some or all of their property but what they are allowed to retain will vary from state to state.


Can you keep a car if you file for chapter 7 bankruptcy in Florida?

Can I keep my paid off autos if I fie bankruptcy?


Can you file Chapter 7 bankruptcy and still keep your house?

yes, just keep your house exempt from the bankruptcy


Can you file chapter 13 but not want to keep home?

Sure...you can not want to keep the house without filing BK too


Can you keep your cars in a chapter 7 bankruptcy?

Yes, you can keep you car in chapter 7 bankruptcy. In Chapter 7 bankruptcy there are some rules. You can only file Chapter 7 if your income is below your state's median or is not enough to pay off your current debt.


If you file chapter 13 can you keep your home?

Maybe. If you can pay for it. If not, with our without some form of BK, no.


Can keep your rental property if file chapter 7 in Ohio?

If it has value above its debt, probably not.


Can you keep your car that you are still paying on if you file chapter 13 bankruptcy in NM?

Generally yes.


What do you keep in a bankruptcy?

It is a myth that you will lose everything if you file for bankruptcy. While the bank is allowed-under Chapter 7-to liquidate assets, there are number of exemptions including tools of the trad exemptions, primary vehicle, and others.


Do you get to keep everything if you file bankruptcy?

Yes, if you file a Chapter 13, usually you can retain all your property, although you will have to reaffirm your agreements that relate to a mortgage(s) and auto loan(s). No, if you file a Chapter 8, some assets personal and real will have to be forfeited.


Do you get to keep your house if you file bankruptcy?

You may, provided you do not list it in the bankruptcy, you file chapter 13 reorginization, or if you reaffirm with the mortgage holder. That is a dangerous answer. You must list all assets, including your house, in a bankruptcy. You can keep the house if you reaffirm the mortgages and other debts secured by the house in a Chapter 7 and you are not in arrears on the mortgages, or you file a Chapter 13 to get caught up on the secured debt arrears.


If I convert from chapter 13 to chapter 7 will I lose both my vehicles?

The petitioner will be allowed to keep whichever vehicle is protected by the state or federal exemption.


If you default on a chapter 13 bankruptcy can you file for a chapter 7?

An unfortunate aspect of Chapter 13 bankruptcy plans is that the budget is very strict and hard to keep. An individual having problems with the chapter 13 bankruptcy can convert into a chapter 7 bankruptcy or re-file altogether. Make sure to look into the changes and different effects that a chapter 7 (as compared to Chapter 13) will have on you.


Can you file bankruptcy and still keep your Harley Davidson Motorcycle?

Yes - I was able to keep my 2003 Ultra Classic Anniversary and my husband kept hie 1994 Lowrider


Can you keep your home in a bankruptcy in NC?

It depends on which "chapter" of bankruptcy you file. I suggest you speak with an attorney to see what you can do.