Legal Question in Bankruptcy in Virginia
Bankruptcy - Keeping your car with a large equity
I have approximately $14,000 in equity on my car. Can I keep my car or will the courts try to sell it for the equity?
I can and want to make the payments on the car.
Asked on 11/27/07, 11:38 pm
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
Re: Bankruptcy - Keeping your car with a large equity
In a chapter 13 you would be able to keep it. In a chapter 7, it depends on whether that equity amount is really there, and what other property you need to protect with your available exemptions.
Answered on 11/27/07, 11:45 pm
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