Can I sell my car after filing Chapter 7?
Then, can I sell my car while in Chapter 7?
In Chapter 7 bankruptcy, most or all of your debts are discharged. In exchange, the bankruptcy trustee is allowed to sell your nonexempt property and use the proceeds to pay your unsecured creditors. If the equity in your car is exempt, you can keep your car.
Similarly, what happens to your car when you file Chapter 7? Keeping Your Car in Chapter 7 Bankruptcy In Chapter 7 bankruptcy, most of your debts are discharged (canceled). In return, you must give up nonexempt property -- the bankruptcy trustee sells the property and uses the proceeds to pay your unsecured creditors.
Then, how long can I keep my car after filing Chapter 7?
Under Chapter 7, the automatic stay and its protection can last until the debts in the case are discharged, which is generally about three months after the case is filed. In the meantime, Adam's attorney makes arrangements with the lender's attorney for Adam to bring the vehicle loan payments current.
How much does it cost to file Chapter 7?
For a Chapter 7 case, the fee is $335. For a Chapter 13 case, the fee is $310. The Bankruptcy Trustee may charge a fee of $15 to $20 when you file, as well. You may request to pay the filing fees in installments; most courts will allow it if you can show it would be a financial hardship to pay all at once.