Perhaps. You have the right to remain investing in your current vehicles loan/book article bankruptcy proceeding. The fresh judge really does feedback the newest the fresh collateral on the automobile. In case the auto has no liens in it, you can ensure that it stays and also zero care about turning they over to the latest Trustee if the worthy of is below the exemptions throughout the state in which you registered your situation. New exemptions apply to security regarding the auto. Such as, when you yourself have a beneficial $20, automobile with a $ten, lien, you really have $ten, within the equity. To keep the car versus procedure, webpage might you need $10, during the exemptions which could apply at your vehicle. When you have a great $fifteen, vehicle that have $18, inside the liens, then there is no guarantee, and you should have the ability to support the car as long as you remain and also make your instalments.

Any a home you own must be revealed towards court throughout your bankruptcy. If or not you to definitely a house was at the mercy of stop trying oriented greatly toward exactly what state you are filing for the, just what part regarding bankruptcy you are submitting, together with condition of every loans/liens on assets. Specific states provides exemptions that can protect an unlimited collateral in the the majority of your quarters, most other says simply support $20,. Already, Virginia allows a debtor to protect $twenty-five, within the security of their no. 1 household, and an extra $5, wildcard. Some additional exemptions will get protect your property; it is very important comment your role having a skilled attorney to be sure you reside protected.