Can I keep my car when filing for bankruptcy?

In Massachusetts, whether or not you can keep your car when filing for bankruptcy depends on the type of bankruptcy that you are filing for. For a Chapter 7 bankruptcy, you can keep your car if its market value is below a particular amount and you can make payments on the car loan. The amount you can keep varies depending on the make, model, and year of your car. The amount you can keep also varies depending on the county in which you file your bankruptcy. For a Chapter 13 bankruptcy, you can keep your car as long as you stay current on your car loan payments. You will need to enter into a repayment plan with your creditors and prove that you can make your payments on time. Finally, if you are filing for a Chapter 11 bankruptcy, you can keep your car as long as you can prove that you are able to make the payments on the loan. In any event, it is important to remember that filing for bankruptcy does not guarantee that you can keep your car; it is important to consult with a qualified attorney to assess your situation and determine the best course of action.

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Can I keep my car when filing for bankruptcy?

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