Florida | Bankruptcy
1/17/10, 5:51 pm
Legal Question
i have about $25000 of debt. can i file for bancruptcy and be able to keep my truck?
i have about $25000 of debt. can i file for bancruptcy and be able to keep my truck?
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Read More Answered By: Alan Wagner |
Probably. Not sure I would file bankruptcy over 25K, though. |
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Read More Answered By: Brent Rose |
It depends on the value of your truck. If you owe more on the truck than it's worth, then you can keep it. If the truck is worth less than $1,000 (or less than $1,000 over what you owe), you can keep it. If you don't have a lot of personal possessions or you don't have a homestead with equity, you may be able to keep the truck. You'll have to speak with a bankruptcy lawyer to know for sure. Mr. Wagner thinks you shouldn't file bankruptcy over $25,000. I'm not sure how much money that is to some people, but to you that may be a lot, so it may definitely be worth your while to file bankruptcy. |
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