Posted on: 27th Sep, 2013 12:26 am
Hi everyone... I am going through a tough financial situation. I am just concerned about my car. Will I lose my car if I file bankruptcy? Or will it be safe?
Hi Toughy,
There are high chances that you will lose your car. You will have to mention your car as one of your assets. If your car is free and clear, then the trustee can sell off the car and use the sale proceeds to pay off your creditors.
Thanks.
Jerry
There are high chances that you will lose your car. You will have to mention your car as one of your assets. If your car is free and clear, then the trustee can sell off the car and use the sale proceeds to pay off your creditors.
Thanks.
Jerry
Hi Toughy,
If the car does not fall within the exemption limits, then you will lose it while you file bankruptcy.
Thanks
If the car does not fall within the exemption limits, then you will lose it while you file bankruptcy.
Thanks