Can I file for chapter 7 bankruptcy and still keep my vehicle? 4 Answers as of August 27, 2010

I am current on my car payments but still owe more than $10,000 dollars on my car. If I were to file for Chapter 7 bankruptcy, would I still be able to hold on to my vehicle?

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The Doan Law Firm
The Doan Law Firm | Shawn Doan
Yes, usually, but do consult with one of our bankruptcy attorneys for further information.
Answer Applies to: California
Replied: 8/25/2010
Ariano & Reppucci
Ariano & Reppucci | Chris Ariano
You will be able to hold onto it I you are current at the time of filing and your vehicle has less than 5k in equity. Equity is the fair market value of the car minus any liens on it. To discuss further, please contact us.
Answer Applies to: Arizona
Replied: 8/24/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
Yes, you may still be able to hold onto your vehicle.
Answer Applies to: California
Replied: 8/24/2010
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