Legal Question in Bankruptcy in Nevada
keeping automobiles
If a person goes bankrupt, can he or she keep their automobile if it's the only possession?
1 Answer from Attorneys
Re: keeping automobiles
Good afternoon, Sir or Madam:
The Nevada Legislature has developed a great basic research site
covering all of the statutes and administrative regulations, including
references to Nevada Supreme Court decisions related thereto, available
at:
http://www.leg.state.nv.us
You may want to look into the chapters on EXECUTION AND EXEMPTIONS on this site. In this regard, I invite your attention to NRS Chapter 21,
which is found at:
http://www.leg.state.nv.us/NRS/CH_021.html
Under Nevada law, a judgment debtor may keep $4,500 of equity in a vehicle. There may be other laws affecting your ability to resolve your bankruptcy problem, which is necessarily beyond the scope of this reply.
I charge $200.00 per hour for case analysis, advice, suggesting and
recommending alternatives, legal drafting, telephone calls, legal research and obtaining a decree of bankruptcy discharge when I am hired by a client.
If I do not hear back from you by Friday, January 8, 1999, I will assume that you have answered your questions to your own satisfaction, hired another lawyer, or decided against pursuing the matter.
I hope this is of assistance to you.
Paul Malikowski
Law Offices of Paul J. Malikowski
33 West Eighth Street
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