Which bankruptcy can I file if I have mostly closed accounts? 21 Answers as of August 24, 2011

I am recently unemployed and I have a lot of closed accounts. My car has just been repossessed so I really need to know if I can include it also, and get it back.

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Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
Generally, you would want to file a Chapter 7 if you qualify. However, Chapter 13 has advantages that Chapter 7 does not provide for.
Answer Applies to: Washington
Replied: 8/24/2011
Heupel Law
Heupel Law | Kevin Heupel
The right bankruptcy depends on your income, family size, assets, and type of debts. Assuming all of your property is exempt from the scenario that you described, then Chapter 7 would be your best option.
Answer Applies to: Colorado
Replied: 8/22/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
I do not know how long ago the car was repossessed. It might be possible to get it back in a Chapter 13. It sounds like you are eligible to file a chapter 7 - so see a lawyer.
Answer Applies to: California
Replied: 8/15/2011
Bankruptcy Law Center
Bankruptcy Law Center | Bill Zurinskas
As long as you qualify, Chapter 7 bankruptcy is the cheapest, easiest and fastest type of bankruptcy. Most debtors file chapter 7 bankruptcy. If your case has complicating factors, you may have to file a chapter 13 bankruptcy. You can include the liability from the repossessed vehicle in either chapter 7 or 13.
Answer Applies to: Colorado
Replied: 8/15/2011
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
If you have mostly closed accounts chapter 7 may be the best option. If you recently have had a car repossession chapter 13 might be a better alternative.
Answer Applies to: California
Replied: 8/15/2011
    Law Office of Michael Johnson
    Law Office of Michael Johnson | Michael Johnson
    You cannot get your car back thru a bankruptcy. You need to have it in your possession to protect it.
    Answer Applies to: Florida
    Replied: 8/14/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    Whether an account is open or closed does not determine which bankruptcy chapter you file. That can only be determined by a comprehensive consultation with a bankruptcy attorney, after looking at all your assets, debts, income, expenses and other relevant factors. Most likely Chapter 7 would be what you would file based on the information you provided.
    Answer Applies to: California
    Replied: 8/14/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    Very few repossessed cars are returned. Unless you do a 13 quickly AND pay for the car, the answer as to the car is usually no. Most unemployed people cannot do a 13. ALL your debts must be in the case. Chapter 7 is usually the choice for the unemployed, but without more info as to your past earnings, etc. there is no way to know what you can file.
    Answer Applies to: Georgia
    Replied: 8/14/2011
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    Chapter 7 bankruptcy is the most widely employed provision used by people in situations like yours (for those who qualify).
    Answer Applies to: Indiana
    Replied: 8/14/2011
    Grasso Law Group
    Grasso Law Group | Charles Grasso, Esq.
    If you have no income and no real property you wish to retain, then you can file for Chapter 7 and seek to discharge any remaining debt on your closed accounts. However, if your car has already been repossessed, then unfortunately bankruptcy will not likely help you get the car back.
    Answer Applies to: California
    Replied: 8/14/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    Depends on a lot of factors, but Chapter 7 may be your better choice.
    Answer Applies to: Virginia
    Replied: 8/14/2011
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    Whether the account is open, closed, charged off or assigned to a collection agency makes no difference as a far as filing any bankruptcy is concerned. However, in order to attempt to keep the car, you would have to file a Chapter 13, but that requires you have some disposable income - and it would have to be filed immediately.
    Answer Applies to: California
    Replied: 8/13/2011
    Ross Smith, Attorney at Law
    Ross Smith, Attorney at Law | Charles Ross Smith III
    Just because an account is closed or "written off" it doesn't mean that you no longer owe the money. You should usually file a Chapter 7 Bankruptcy if you wish to discharge your debts permanently. If you want to to pay all or a percentage of your debts, you would file a Chapter 13. I note that in a 13 there is no restriction as to the assets that you may keep. Chapter 13 Plans are often filed by debtors who have too much income to file a Chapter 7. In a Chapter 7, you can sometimes lose an asset, like a car or a tax refund, if they are too valuable. Your income must be under "means test" requirements for your section of the country in order to file a Chpater 7. A bankruptcy attorney will usually discuss these things with you at the first consultation. Good luck.
    Answer Applies to: Ohio
    Replied: 8/13/2011
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    Include it all in a Chapter 7
    Answer Applies to: California
    Replied: 8/13/2011
    Judith A. Runyon, Esq. Attorney at Law
    Judith A. Runyon, Esq. Attorney at Law | Judith A. Runyon
    Talk to a bankruptcy attorney to see which chapter you qualify for.
    Answer Applies to: California
    Replied: 8/13/2011
    Colorado Legal Solutions
    Colorado Legal Solutions | Stephen Harkess
    If you want your repossessed car back, you will need to file a Chapter 13 case - and quickly. A Chapter 13 will allow you to restructure your car debt and pay it off over time (you don't get to keep the car without paying for it-even in bankruptcy). You must file your case before the car is sold at auction, however, or it will be too late. You may only have a week or two after the repossession before this happens.
    Answer Applies to: Colorado
    Replied: 8/13/2011
    The Northwest Debt Relief Law Firm
    The Northwest Debt Relief Law Firm | Thomas A McAvity
    You can file if you have mostly closed accounts and there is no reason why you should not be able to get your car back, provided that you file a Chapter 13 Bankruptcy and your car has not already been sold off at auction.
    Answer Applies to: Oregon
    Replied: 8/13/2011
    Florio Law Firm, PLLC
    Florio Law Firm, PLLC | Amber Morgan Florio, Attorney at Law
    Depending on when your car was repossessed, you you may not be able to get it back. You may file bankruptcy on all Debts ( excluding taxes, domestic support obligations, and student loans).
    Answer Applies to: Texas
    Replied: 8/13/2011
    Charles Schneider, P.C.
    Charles Schneider, P.C. | Charles J. Schneider
    All debts must be listed in a bankruptcy case. The fact that an account may be closed does not mean it does not exist nor does it mean that it cannot be discharged in a bankruptcy case. Most debts are eligible for discharge. A debt for a repossessed car should be listed as there may be a deficiency balance owed after sale by the repossessing entity.
    Answer Applies to: Michigan
    Replied: 8/13/2011
    Melinda Murphy Dionne, PC
    Melinda Murphy Dionne, PC | Melinda Murphy Dionne
    If you have no source of income, you would need to file a Chapter 7 case. The Chapter 7 case would wipe out all of the closed accounts as well as the repossession debt. Unfortunately, it is not possible in Alabama to get the car back once it has been repossessed. Occasionally a creditor will agree to give the car back; however, there is no way to force them to do so.
    Answer Applies to: Alabama
    Replied: 8/13/2011
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