Can I keep my RV if I file for bankruptcy? 29 Answers as of February 10, 2014

Can I keep my RV because it will be my only place to live?

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Michael B. McFarland, P.A. | Michael B. McFarland
In Idaho, you can file a declaration of homestead on your RV, which allows you to exempt the first $100,000 of your equity. However, you should obtain the assistance of an experienced bankruptcy attorney before doing so. If you have an interest in any real property - even if you are surrendering it- you need to file an abandonment of any automatic homestead before you file a homestead on your RV. Also, the forms need to be done exactly correctly, or it may not work. Don't try this on your own.
Answer Applies to: Idaho
Replied: 2/10/2014
Elkington Law
Elkington Law | Sally Elkington
You have not provided enough information to answer that question. Such as, are you living in it now? It is there a loan on the RV. What is the RV worth? Are you filing a Chapter 7 or 13? There are lots of questions to answer regarding your concern. I would advise that you contact an bankruptcy attorney and NOT try to file a bankruptcy yourself, if you are trying to keep an asset.
Answer Applies to: California
Replied: 1/24/2014
Stephens Gourley & Bywater | David A. Stephens
In Nevada if it is your residence, you can keep it, although you will have to pay the payments, if there are any, to keep it.
Answer Applies to: Nevada
Replied: 1/24/2014
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Here's the issue: Is it a "mobile home"? Real estate, mobile homes, and manufactured homes are covered by Colorado's Homestead exemption. I have never had to research that particular issue, but my educated "guess" would be yes, it is covered by the exemption statute. If you are a "belt & suspenders" kind of person, you may want to research that issue, or pay a law clerk to research the issue. Cost is about $75 an hour (maybe 2 hours).
Answer Applies to: Colorado
Replied: 1/23/2014
Law Office of Susan G. Taylor
Law Office of Susan G. Taylor | Susan G. Taylor
Even an RV can be considered your homestead in Texas (but not a boat!). Even if you aren't living in it at the time of filing, most likely you could keep it. Consult an attorney about exemption schemes available to you and your options.
Answer Applies to: Texas
Replied: 1/23/2014
    Kenneth A. Parker, P.C.
    Kenneth A. Parker, P.C. | Ken Parker
    It depends on how much equity you have in the RV and if it is exempt.
    Answer Applies to: Georgia
    Replied: 1/23/2014
    Idaho Bankruptcy Law | Paul Ross
    Visit with your bankruptcy attorney. In Idaho, you may keep your RV if you are living there (assuming you are current on any secured payments regarding the RV). It all depends on how much equity you have in the RV, which should not be an issue with Idaho's homestead exemption.
    Answer Applies to: Idaho
    Replied: 1/23/2014
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    Most likely, yes. But I don't have enough information on this to give a definitive answer. Does the value exceed you homestead exemption? And if so, by how much? It is best to have a lawyer look at what what exemptions you intend to take.
    Answer Applies to: California
    Replied: 1/23/2014
    Tokarska Law Center
    Tokarska Law Center | Kathryn U. Tokarska
    The answer depends on how much equity you have in it.
    Answer Applies to: California
    Replied: 1/23/2014
    Patrick W. Currin, Attorney at Law | Patrick Currin
    You can exempt property in bankruptcy. Depending on what other assets you have, you should be able to retain the RV.
    Answer Applies to: California
    Replied: 1/23/2014
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    If you can make the payments on the RV and don't have a home or are giving it up, you should be able to keep it no problem. Good luck!
    Answer Applies to: Michigan
    Replied: 1/23/2014
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    If you have exemptions on it then it should not be touched. Ask your attorney if it is protected.
    Answer Applies to: New York
    Replied: 1/23/2014
    Meister & McCracken Law Firm, PLLC | Joanne M. McCracken
    That depends on a number of facts. Do you owe money on it? What is its fair market value? Where do you keep it? Are you actually living in it now? You need to consult with a qualified bankruptcy attorney who can evaluate your situation with all the facts.
    Answer Applies to: Arkansas
    Replied: 1/23/2014
    The Law Office of M Grater LLC
    The Law Office of M Grater LLC | Mark O. Grater
    Because the RV is your residence, you will probably be able to apply the homestead exemption in order to keep the RV. The final answer depends upon the amount of equity in the RV and the State that you live in.
    Answer Applies to: Connecticut
    Replied: 1/23/2014
    Law Office of Mark B. French
    Law Office of Mark B. French | Mark B. French
    The answer to your question depends of 1) where you live now and how long you have lived there as that determines what exemptions are available to you, 2) What other assets you have that you might want to keep ("exempt"), and 3) how much the RV is worth and how much you owe on it. One thing that you need to remember is that, even if you are able to "exempt" the RV, if you owe money on the RV you will have to pay that lender if you want to keep the RV. In other words, there is no "free RV" just because you filed for bankruptcy.
    Answer Applies to: Texas
    Replied: 1/23/2014
    David Kass | David Kass
    You get a homestead ex in nys of 150k. To that degree yes you can keep it.
    Answer Applies to: New York
    Replied: 1/22/2014
    Garner Law Office
    Garner Law Office | Daniel Garner
    In Oregon I have had no problem claiming the homestead exemption for an RV if it is in fact where you live. The dollar limit is based on the equity you have and whether you are married or single.
    Answer Applies to: Oregon
    Replied: 1/22/2014
    Stuart P Gelberg
    Stuart P Gelberg | Stuart P Gelberg
    It depends on its value and your choice of exemptions. You need an atty to assist you.
    Answer Applies to: New York
    Replied: 1/23/2014
    Hoang & Tran PLLC | Adam Tran
    Your RV is not a homestead, but may nevertheless be exempt.
    Answer Applies to: Texas
    Replied: 1/22/2014
    Law Office of Robert Sisson | Robert Sisson
    Depends if it can be exempted in the petitions.
    Answer Applies to: Wisconsin
    Replied: 1/22/2014
    David Brodman
    David Brodman | David Brodman
    It depends how much equity you have in the RV if you are not living in it. If you are residing in the RV, you should definitely be able to keep it. There is a $150,000 homestead exemption in NY.
    Answer Applies to: New York
    Replied: 1/22/2014
    Law Offices of Damian Boz, PC
    Law Offices of Damian Boz, PC | Damian Boz
    It is very possible that you will be able to keep your RV. However, I would need more information before providing you a definite answer.
    Answer Applies to: Massachusetts
    Replied: 1/23/2014
    Law Offices of Daniel J Winter
    Law Offices of Daniel J Winter | Daniel J Winter
    Generally, in Illinois, you can protect $15,000.00 worth of equity in a residence; that residence can be an RV. You need to contact a lawyer to discuss your specific situation, though.
    Answer Applies to: Illinois
    Replied: 1/22/2014
    Danville Law Group | Scott Jordan
    The answer to your question depends on many factors which were not provided in your inquiry. Without more it is impossible to say. However, I can say that I have never had a client lose something they did not want to lose in the first place. And, the bankruptcy court has not interest in making someone homeless.
    Answer Applies to: California
    Replied: 1/23/2014
    Steele, George, Schofield & Ramos, LLP
    Steele, George, Schofield & Ramos, LLP | Alan E. Ramos
    That depends. If you owe money on it, can you afford the payments? If you own it free and clear, can you exempt it? You should contact an attorney to discuss your options.
    Answer Applies to: California
    Replied: 1/23/2014
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    The answer depends upon what state you live in and the value of the RV and whether there is a loan against it and whether the loan payments are current. As you can see, things in bankruptcy are not always easy, simple, or clear cut. If keeping your asset (home) is important, then that should be about as good a reason as any I can think of for you to obtain the assistance of an experienced bankruptcy lawyer to guide you through the process. The fees it will cost you will be more than worth it if it allows you to keep your home.
    Answer Applies to: Colorado
    Replied: 1/22/2014
    Law Office of Stuart M. Nachbar, P.C.
    Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
    It is possible.
    Answer Applies to: New Jersey
    Replied: 1/23/2014
    Barr, Jones & Associates LLP
    Barr, Jones & Associates LLP | Andrew Brasse
    You should be able to keep your RV. It really depends upon its value. However, if it is the place that you live, bankruptcy provides for significant exemptions that would protect it from the court taking it during the bankruptcy process. You should consult with an attorney about the particulars when beginning the filing of your case.
    Answer Applies to: Ohio
    Replied: 1/22/2014
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Yes you may. However, if there is a lien against it you must be current and continue to pay the bank or they can take it from you.
    Answer Applies to: Nevada
    Replied: 1/22/2014
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