If you own your car then you'll be able to keep it if its value falls under your state's vehicle exemption amount. The state exemptions vary widely and some use the federal exemption. The federal bankruptcy exemptions allow you to exempt up to $3,675 of equity in your car.
When you donate a car after bankruptcy this means you are giving a property that you owned. Well, that's okay but not the right choice specially in times like this. Consult Atty Jeffrey Cancilla, he can help you deal with your problem.
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Yes, you can lose a car if you file for bankruptcy, but it depends on several factors, including the type of bankruptcy you file and the value of the car. In Chapter 7 bankruptcy, non-exempt assets may be sold to repay creditors, which could include your car if it's not protected by exemptions. However, if you file for Chapter 13 bankruptcy, you may be able to keep your car by restructuring your debt and making payments over time. Always consult with a bankruptcy attorney to understand your specific situation and options.
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy
Probably there are much more chance that you will be loosing your house and vehicle by converting from chapter 13 to chapter 7 bankruptcy. There is a $25 conversion fee that has to be paid to the court. Depending upon the status of your chapter 13 case.
If there was a secured loan and you reaffirmed the debt in your chapter 7 and you have paid off the loan, you should get the title from the lender. If you surrendered the car to the lender in your chapter 7, your balance was discharged as an unsecured loan and you have not owned the car since you surrendered it.
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can file bankrupcy if i lose my car
Need to know type of Bankruptcy 7, 13, 11 ??
Chapter 13 goes up to 60 months but it can be shorter. You will receive the title to your cars when the loan is paid off. Often a car loan is not amended by the bankruptcy, and most loans are less than 60 months.