Legal Question in Bankruptcy in Michigan
Keeping car in bankruptcy
I am planning to file Chapter 7, but I want to keep my car. I do not want to include that debt in the bankruptcy, and want to continue paying for the car. I am one payment behind. How do I indicate this on the forms? How do I not include it?
1 Answer from Attorneys
Re: Keeping car in bankruptcy
Are you filling out the forms on your own?
If so, then you need to list the car, place it as exempt, if the value is under the limits place on exemptions, then file a notice of your intent to retain the car and continue paying the debt, this is called a reaffirmation of the debt.
An attorney can help you with this.
*** I am not a Michigan Lawyer, but I am a bankruptcy lawyer admitted in the Federal District Court of Maryland. Any advice given is to be deemed as general advice and not to be construed as my practicing in the State of Michigan.
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