Will You Lose Your Car When Filing Bankruptcy?
Will You Lose Your Car?
An important consideration in filing bankruptcy is whether or not you will lose your car. A vehicle may be essential to your daily living. You may need a car to get to and from work, to pursue a job hunt or to get groceries. And if you have equity in your car, you are likely concerned about retaining it.
With over two decades of experience in bankruptcy law, I, attorney Christopher P. Walker, can help you determine whether you can keep your car in bankruptcy. I provide personal and tailored legal counsel to help people like you obtain financial freedom.
To learn more about how I can help, contact me for a free initial consultation.
How To Keep Your Car In Bankruptcy
Bankruptcy provides a number of options for allowing you to keep your car. In general, if you are able to continue making payments on your car, you will likely be able to keep your car through bankruptcy. California law will allow you to retain your equity in one or more vehicles, up to a certain dollar limit.
In some situations, it may be necessary to pursue a reaffirmation agreement. This is essentially a negotiation with your lender to allow you to keep the car in bankruptcy.
Through Chapter 13 bankruptcy, you can roll past-due car payments into an affordable payment plan stretched out over three to five years. Additionally, if your car is worth less than the amount of your car loan, you may be able to reduce the amount you owe to match the car’s current value. You can also significantly reduce your interest rate.
Contact An Anaheim Bankruptcy Exemptions Lawyer
Before pursuing bankruptcy or other debt relief options, you should first consult with an experienced bankruptcy attorney. Call the Law Office of Christopher P. Walker, P.C., at 714-639-1990 to schedule a free initial consultation. I offer affordable fees as well as evening appointments.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
From Our Clients
After years of putting off doing a will... we now can rest assured our family estate is legal and ready when we need it.
I found Mr. Walker on the net and am confident to recommend him for legal matters. Office staff was very attentive.
Hurray we finally did it!!!
- Tess
I've been through difficult times so I hired Mr. Christopher Walker to help me, I am very impressed the way he does business. He explains everything in a very professional way he did excellent job for me. I don't know many attorneys out there that answer they're office phone but he does and he returns calls quickly.
- Carlos C.
I have been working with Chris for at least 5 years. He helped us with our Trust. He is transparent and listens. I would recommend him highly.
- Octavio N.
I am not a man known for being a word smith so I am going to put it simply. The hardest year of my life has finally ended on a very high and happy note. Mr. Walker and Laurie are the best partners anyone could ask. They work tirelessly and made the difficult confusing process easy to understand and the clouds have now cleared! Thanks for everything.
- Justin C.
HOW TO REACH US
My law firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.
Let’s Talk About Your Unique Situation, Goals And Needs
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