If I file Chapter 13, can I keep my car that I purchased 2 months ago?

Question

If I file Chapter 13, can I keep my car that I purchased 2 months ago?

Answer 1

It depends. If you are including it in you bankruptcy, then no.

You should seek Ch.07. This will dissolve ALL your unsecured debt & you can reaffirm your debt for the car so you can keep it.

Speak with a lawyer in your area to ensure which chapter will be best for you.

Answer 2

Each case is different. However, there is a 99.99% chance that you will not be able to. It is very hard to keep items purchased on credit when going through bankruptcy.

Answer 3

whats chapter 13?

Answer 4

Not typically. All of your assets go to the bank.

So don't file unless you absolutely need to and are willing to forfeit the things you own that hold value.

Answer 5

Its possible, you probably need to have discussions with the finance company along with your bankruptcy attorney.

Answer 6

Ask a lawyer.