Legal Question in Bankruptcy in New Jersey

Can I Keep My Car

Whether you can keep your car depends on what is exempt property under the homestead laws in your state's and what you could expect to net if you sold your car and paid off the note against it. In Nevada, you can keep a car with a net you of up to $4,500 after paying off the note, provided you keep up the payments.

But with less than $7,000 in debt, I would advise against filing bankruptcy and look into credit counseling instead. (Unless your only income is disability.) Look for the nonprofit credit counseling service ads in your newspaper classified ads or in the telephone book.

Good luck!

Re: If I File Bankruptcy Can I Keep My Car That I Make Monthly Payments On?

Your best response would be from a New Jersey lawyer who is experienced in bankruptcy. Based on the information you have given, bankruptcy may be an option, but it may not be your only option. A good answer can only be given after a full review of your entire financial situation. If you want me to assist, feel free to call me at 609-546-8010. Good Luck!