Legal Question in Bankruptcy in Michigan

I have an antique car but will file bankruptcy chapter 7 soon I have clear title in michigan but never registered or insured will I lose it I would value it at 10,000 my former wife had her home foreclosed after she assumed the mortgage thru chase bank however i found out that i am also liable even though I am no longer on the mortgage I own another car with a lien as my daily transportation and that is my only other asset my toatal debts are about 175,oo0 and earn 50,ooo anually

Asked on 8/11/12, 9:23 am

1 Answer from Attorneys

Charles Schneider Charles Schneider, P.C.

There is no question here. You may qualify for chapter 7 relief and may be able to keep the car but it depends on where you reside and many more factors.

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Answered on 8/11/12, 2:20 pm

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