Legal Question in Bankruptcy in Maryland
Automobile Retention
If I file for bankruptcy through the legal channels do I get to retain my automobile even though it is not paid for and it is one of the many monthly payments I have to creditors??
Asked on 10/30/97, 12:30 pm
1 Answer from Attorneys
Brett Weiss
Brett Weiss, P.C.
Keeping Your Car in Bankruptcy
I will give a very lawyerly answer: it depends.
It depends on which chapter you file under (7, 11 or 13), whether the car has any equity, whether you have sufficient exemptions available to exempt the car, etc.
It most cases, people who file for bankruptcy are able to keep their car (and their house and personal property).
I practice bankruptcy law in Maryland and DC. If I can help, please feel free to give me a call at (301) 570-8976.
Answered on 10/30/97, 4:51 pm
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