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    pototo50's Avatar
    pototo50 Posts: 1, Reputation: 1
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    #1

    Apr 22, 2009, 05:19 PM
    Chapter 7
    If I claim chapter 7 can they take the only car that I Have?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Apr 22, 2009, 07:00 PM

    Depends, is there a loan on the car, if so, you will have to get those payments up to date and re-affirm that debt ( pay the payments)

    Also how much is your equity, value of the car, there are limits by state on the max value you are allowed.
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #3

    Apr 22, 2009, 09:37 PM

    Generally you get to keep the car but if you have a loan out you must reaffirm the debt and file the proper paperwork with the Trustee in order to keep it. If you own it outright depending on the value and what state you live in you may not be able to keep it.
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