Legal Question in Bankruptcy in California

Able to Keep Car?

Am I able to keep my only car, which I purchased in May04, after a Chapter 7 filing. Total cost was approximately $30,000 including $10,000 finance charges. It is necessary for my commute to work. Thank you.


Asked on 12/02/04, 11:58 am

3 Answers from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Able to Keep Car?

Depending on whether a person has and will keep up payments, there usually is no problem keeping the car in a Chapter 7 bankruptcy. If I can help further, please give me a call at (310) 858-9771. Thanks.

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Answered on 12/02/04, 12:30 pm
Chris Johnson Christopher B. Johnson, Attorney at Law

Re: Able to Keep Car?

You can usually keep the car by keeping the payments current, but the court and trustee may object if they think the payments are too high.

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Answered on 12/02/04, 5:02 pm
Charles Shamash Caceres & Shamash, LLP

Re: Able to Keep Car?

Other information a factor, i.e. are you a homeowner? If this vehicle is your only asset you should be o.k, however you must also remain current on payments and insurance.

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Answered on 12/02/04, 8:32 pm


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