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we bought cars for our children, can we keep those cars

1 Answers. Asked on Apr 03rd, 2017 on Bankruptcy - California
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Answered on Apr 03rd, 2017 at 5:12 PM

Whether you can keep any assets in a bankruptcy case depends on the following factors:

1.  Which Chapter you file;

2.  The value of the asset

3.  What exemptions are available to you to protect those assets under applicable state or federal law.

A comprehensive consultation with a bankruptcy attorney in your State will yield the answer to your question.

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Bankruptcy
If you're struggling to pay off your delinquent debts and getting hounded by collection agencies, then it's time to address your financial problems. And filing for personal bankruptcy may be the ideal solution. Whether you're an individual or married couple considering Chapter 7 or Chapter 13 bankruptcy, or a business considering a Chapter 11 reorganization, or a farmer considering Chapter 12, you need the advice and guidance of an experienced bankruptcy attorney. Your lawyer can help determine which form of bankruptcy is right for you, prepare and file all of the paperwork, and advise you throughout the bankruptcy process.
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