Legal Question in Bankruptcy in New York
If a person files for bankruptcy can he keep his car that has a lien on it?
I have a friend that is in a desperate situation, he is a New York volunteer fire fighter that was in New York city on 9/11 we were suppose to do some construction work @ the pentagon but as luck would have it we took the day off. I think it has had a negitive affect on him, he doesnt work offten, he's depressed and he can't pay his bills, the bank wants to repo his truck, can he keep it in a bankruptcy. And is there any help ( financial and or emotional )that he can get as a New York volunteer fire fighter.
1 Answer from Attorneys
Re: If a person files for bankruptcy can he keep his car that has a lien on it?
No. Liens are not effected by a Chapter 7 bankruptcy. Simply put if the payments are not made the lender can repo the vehicle. If a Chapter 7 is filed the lender can not collect from the person but can collect against the property (that is repo).
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