Posted On: July 6, 2010

Roseville, Is it possible to keep your Car in Bankruptcy?

Is it possible to keep my car in bankruptcy?

Generally speaking, it is possible to keep your car in bankruptcy. There are, however, several factors that come into play when determining whether it is possible to keep your car in bankruptcy. Some of the factors that play a part in answering whether you may keep your car in bankruptcy are:

1) What Chapter of Bankruptcy are you filing under?

2) How much equity is in your car?

3) If you still owe car payments, can you afford to continue making those car payments?

How will a Chapter 7 and a Chapter 13 Bankruptcy effect my ability to keep my car in bankruptcy?

Chapter 7: Chapter 7 bankruptcy is generally referred to as “liquidation.” The goal of a Chapter 7 bankruptcy is to discharge all of your unsecured debt. In return, your creditors will receive the value of your nonexempt assets. You have the option of reaffirming your loan obligations on your car in bankruptcy or of surrendering the car. You will get to keep your car in bankruptcy IF the amount of equity in your car is below the California exemption limit and if you will continue to make your car payments.

Chapter 13: Chapter 13 bankruptcy is generally referred to as “reorganization.” The goal is to place you on an affordable repayment plan. Generally speaking, you get to keep all of your assets, including your car, in bankruptcy chapter 13. You must pay off all secured debt on your car over the life your plan. You must also continue to make your monthly car payment in order to keep your car in bankruptcy. One of the benefits of filing a chapter 13 bankruptcy is that you may get to “cram down” the car loan amount to the value of your vehicle. Please consider talking to your Roseville bankruptcy attorney about this option.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

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100% Money-Back Guarantee from Sagaria Law

If the courts do not accept your bankruptcy filing because of an error on our part, we will refund 100% of your money, including the filing fee!

At Sagaria Law, PC we want to guide you on the path to financial freedom and realize this is not an easy task for most. We respect your devotion to better your circumstances even with financial hardship and thus are willing to guarantee that if you retain us, we will do everything we can, legally and ethically, to help you become debt-free.

The Fine Print

The Sagaria law guarantee covers everything that a bankruptcy law firm produces in order to successfully complete a bankruptcy filing. We guarantee that it will be done in a manner that is accepted for filing with the bankruptcy clerk's office.

There may be reasons beyond our control that may cause a case to be dismissed. Therefore, the 100% Money-Back Guarantee does not guarantee;

  1. That you will receive a discharge.
  2. That you will receive a discharge of all debts or of any particular debt.
  3. That your case won't be dismissed for reasons not related to the paperwork being accepted for filing.
  4. That you, our client, will successfully complete all of your obligations including accurate disclosure of debts, completing your forms on time and attending your 341 meeting as scheduled.
  5. That you will not lose assets in chapter 7, or that creditors won't successfully argue for the repossession of collateral in chapter 13.
  6. That you will not encounter challenges of any kind to your bankruptcy case.

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