Legal Question in Bankruptcy in Iowa

Can I keep my vehicle

I have about 20,000+ debt and includes a 1996 Ford truck. I still owe about 10,500 on it and have checked its market value to be around 8,500. The rest of the debt is all credit. I am wondering if I can keep my vehicle under chapter 7 or will I lose it or have to file chapter 13.


Asked on 9/04/02, 4:10 pm

1 Answer from Attorneys
Andrew Nichols Law Office of Andrew B. Nichols

Re: Can I keep my vehicle

You should be able to keep your vehicle under chapter seven. You don't have any equity in the truck so basically the car is not worth anything. Please feel free to call me toll free if you have other questions. ph. (800) 303-0720

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Answered on 9/04/02, 8:04 pm


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