Keeping Your Car in Bankruptcy
Keeping Your Car in Bankruptcy
For most people, having a car is essential. Anyone considering bankruptcy will naturally want to know what will happen to his or her car--or cars--as part of the bankruptcy process. The answer, like so many bankruptcy issues, is complex, and depends on the state in which the person files, and whether the he or she files under Chapter 7 or Chapter 13.
State Exemptions
Every state in the country allows an individual to keep certain items during bankruptcy. (These items are exempt from being used to pay creditors, and are thus called ...