Legal Question in Bankruptcy in Oregon
when do i give up my car?
I am considering filing chapter 7. when in the process will i have to give up my car? Do i do it as soon as i file or after my court date.?
Asked on 7/16/04, 3:21 pm
1 Answer from Attorneys
Noel Snyder
Law Office of Noel Snyder
Re: when do i give up my car?
You are not providing sufficient information. Whether you will be required to surrender the vehicle depends on the value of the vehicle and whether there are any encumbrances (loans secured by the vehilce as collateral. You may be able to claim the vehicle as exempt of it may be in your best interest to reaffirm the debt. In you have any question you should probaly consult with an attorney knowledgeable about bankruptcy law. The cost of a consulation may be far less than the value of the vehicle or the cost of raffirmation.
Answered on 7/16/04, 11:30 pm
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