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Here is a layman's answer.
I believe it depends on the company in which you owe money for the car. If say you own a $2000 car and owe about that they may decide it is worth repossesing to try to get the money from the sale of it. However, if they do not believe they will get any money from the car they may not take it.
You really should talk to your lawyer. I believe there are ways to exclude certain loans.
If though you are driving a $60,000 dollar late model car I would not hold out too many hopes on keeping it.
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∙ 13y ago
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If a bank repossesses a car do they have to return it if you file Chapter 7 bankruptcy?
No.
When a car get reposed in California can you file chapter 7 to get creditor of your back?
Yes.
Will filing bankruptcy affect your car insurance?
I have file for Chapter 7 twice and it has had no effect on my car insurance.
In Kentucky How long after bankruptcy can you file chapter 7 and can you file chapter 13 after chapter 7?
You can file bankruptcy again 7 years after the last time you filed.
If you owe money on your car will it be taken if you file chapter 7?
No, you can reaffirm it and continue to pay your obligation.
Can you file again if you filed in may 2005 on chapter 7?
You can file a chapter 13 bk, but NOT another chapter 7.
How long do you have to be unemployed to file chapter 7?
You do not have to be unemployed to file bankruptcy.
When can you file a chapter 7 bankruptcy if you had a chapter 7 discharged in December 2001?
The bankruptcy petitioner can file another chapter 7 8 years after the date of filing of a previous chapter 7.
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 file chapter 7 bankruptcy now after filing in July 2004?
A person can file chapter 7 after 8 years from a previous chapter 7. So the answer is NO.
Can your husband file bankruptcy if you filed chapter 7 two years before you were married?
Yes. Married people can file individually. The marriage actually has nothing to do with it though. If you filed, no matter what, you can't file chapter 7 again for 8 years, provided you received a discharge. He can file anytime he wants. If you have any joint debt, you may want to consider Chapter 13. Take a look at it. You can file a chapter 13, just not a chapter 7.
What if you get a job before you file for bankruptcy but need to take it to pay your reaffirmed debt Can you still file for Chapter 7?
Yes.
