Can I keep my car when filing for bankruptcy?

Yes, it is possible to keep your car when filing for bankruptcy in Delaware. The type of bankruptcy filing you choose and your financial situation will determine whether you can keep your vehicle. In Chapter 7 bankruptcy, your vehicle is subject to liquidation. However, if it is considered necessary for your job and/or daily life, you may be able to exempt some of its value and keep it. Under Chapter 13 bankruptcy, you can keep all of your property, including your car, as long as you agree to a repayment plan. This means you will have to pay for your car over an extended period of time as laid out by the court. When filing for bankruptcy, you should consult with a qualified attorney to determine the best course of action for you and your car. An attorney can review your finances and provide you with the information needed to make an informed decision on how to proceed. Additionally, they will have a better understanding of how the bankruptcy process works in Delaware and can answer any additional questions you may have.

Related FAQs

How long will a bankruptcy stay on my credit report?
What is the bankruptcy automatic stay?
How do I obtain a copy of my credit report after filing for bankruptcy?
What is bankruptcy?
How can I find a qualified bankruptcy attorney?
What are the restrictions for filing for bankruptcy?
How does the bankruptcy court decide which creditors will get paid?
What are the consequences of filing for bankruptcy?
How do I know if I am eligible for a Chapter 11 bankruptcy?
Are there any special provisions for filing for bankruptcy as a business?

Can I keep my car when filing for bankruptcy?

Related FAQs

Related Blog Posts