Legal Question in Bankruptcy in Florida

Should I File Chapter 7 or Chapter 13 to keep my Vehicle

I am in the process of preparing the documents applicable to filing my bankruptcy claim. However, I am stuck on which chapter to file. I am currently in the repossesion status and the reason for my filing is to solely keep my vehicle and pay for the ''Blue Book'' value of the car, but how? Do exemptions apply to both Chapters? I have unsecured claims that I also will add into my filing (with of course having them completely discharged) but I want to continue to pay on my auto loan, but at the price of its value.

Please help as I would like to file by January 4, 2002. Thank you for your anticipated assistance.


Asked on 12/29/01, 1:18 am

3 Answers from Attorneys
Anthony Comparetto Comparetto Law Firm

Re: Should I File Chapter 7 or Chapter 13 to keep my Vehicle

Chatper 13 allows you to value property (cars) and cure defaults (repo order)

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Answered on 12/29/01, 9:40 am
Melody Stickel-Martinez Melody Stickel-Martinez, Esq.

Re: Should I File Chapter 7 or Chapter 13 to keep my Vehicle

You may be able to file a Chapter 7 and keep your car. It would depend on the equity in your car. Chapter 7 also helps with the unsecured debt to have that discharged. Feel free to call should you have any further questions.

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Answered on 12/30/01, 9:37 pm
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Should I File Chapter 7 or Chapter 13 to keep my Vehicle

You can manage to keep the vehicle under either chapter. Best for you, based upon the skimpy information you provided, is ch 13.

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Answered on 1/10/02, 4:50 pm


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