Legal Question in Bankruptcy in Ohio

Can I keep my new car

I am going into a chapter 7 and i bought a new 2003 ford, if i want to keep it and make the payments will they let me? and are they going to have a problem with the fact i have no employment and my husband has a car payment already. With no job will they let us keep 2 cars with him being the only one employed? I have only made 2 payments but i put down 2000. on it cost of vehical was 24000.


Asked on 12/27/02, 1:27 am

1 Answer from Attorneys
Frank Rozanc Frank J. Rozanc, Esq.

Re: Can I keep my new car

Chances are that you can, as is sounds like you have less than 1000 in equity in the car, and as such the equity is exempt. You must reaffirm the debt, however. The other car might be at risk, so be careful.

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Answered on 12/27/02, 1:39 am


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