Will I Lose My Car If I File Bankruptcy? Call (703) 967-3315 or visit [ Ссылка ] and ask us about our 👉$0 Down Bankruptcy Program today.👈
Fisher-Sandler has been helping people get out of debt since 1999. We’ve helped thousands of clients file for bankruptcy and we can help you too! Our experienced attorneys have successfully handled thousands of chapter 7 and chapter 13 cases in Northern Virginia.
If you are tired of being harassed by creditors, or if your financial situation is causing stress on your family, then it may be time to consider filing bankruptcy under the U.S. Bankruptcy Code. You can stop harassing calls from creditors today! Get a fresh start with zero down payment for chapter 7 bankruptcy filing at Fisher-Sandler!
What Happens to Your Car in Chapter 7 Bankruptcy?
Each state allows bankruptcy filers to keep certain types of property up to a certain dollar limit. Almost all states provide some type of motor vehicle exemption. Many people worry that they’ll lose everything if they file for Chapter 7 bankruptcy, but it’s not the case. Exemption laws allow you to “exempt,” or protect property in bankruptcy, including a modest car (truck, motorcycle, or van).
Most people can keep their car and get debt relief by filing bankruptcy. Of course, if you need a fresh start but you need your car just as much, you probably wonder about how this works in Chapter 7 bankruptcy.
If you own your car free and clear, the next question you have to answer is “how much is my car worth?” The answer - the car’s fair market value - determines whether you risk losing the car in a bankruptcy.
Filing a bankruptcy case is meant to give you a fresh start. Bankruptcy exemptions exist to make sure everyone filing a bankruptcy case can keep their most basic possessions. Depending on the state you’re filing in, and how long you’ve been there, you may be able to choose between the federal bankruptcy exemptions and the exemptions granted by your state law.
When you file bankruptcy, you won’t be left destitute. Each state decides which property its residents can safeguard with bankruptcy exemptions. The state’s exemption list will cover key assets that you’ll need to maintain a home and job, such as clothing, household goods, electronics, work tools, retirement accounts, and, in most cases, some equity in a homestead and equity in a vehicle.
Areas We Serve:
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Office Locations:
Fisher-Sandler, LLC
12801 Darby Brook Ct #201
Woodbridge, VA 22192
(703) 967-3315
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Fisher–Sandler, LLC
3977 Chain Bridge Rd #2
Fairfax, VA 22030
(703) 691-1642
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Fisher-Sandler, LLC
8002 Discovery Drive, Ste. 422
Richmond, VA 23229
(804) 664-3643
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Fisher-Sandler, LLC
1930 William Street
Fredericksburg, VA 22401
(540) 274-5566
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DISCLAIMER
The information in this video is not intended to provide legal advice or to create an attorney-client relationship; but is intended for general education and information purposes only. Laws change periodically, therefore the information in this video may not be accurate. It is imperative that you seek legal counsel in order to determine your rights and obligations under the law and based upon your specific circumstances.
