Legal Question in Bankruptcy in Florida

I took out a car loan a couple of months ago and now I may have to go through bankruptcy. Can I keep the car even though I have not been paying on it long? Also my home, will I be able to keep it? I have lost my job and can no longer afford to pay these things, my credit up to this point is very good but the bank will not lower my payments.


Asked on 1/11/11, 8:07 am

2 Answer from Attorneys
William Gwaltney William W. Gwaltney, Attorneys at Law

It is possible to retain your car and your house, but not always. While the bankruptcy statutes provide for the retention of these items, you still have to pay for them as a secured creditor. You do not get to wipe out the debt.

You should consult with a bankruptcy attorney and let them help you determine the best course of action.

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Answered on 1/18/11, 9:49 am


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