Legal Question in Bankruptcy in Nevada

keeping automobiles

If a person goes bankrupt, can he or she keep their automobile if it's the only possession?


Asked on 11/11/98, 10:01 pm

1 Answer from Attorneys

Paul Malikowski Malikowski Law Offices, Ltd.

Re: keeping automobiles

Good afternoon, Sir or Madam:

The Nevada Legislature has developed a great basic research site

covering all of the statutes and administrative regulations, including

references to Nevada Supreme Court decisions related thereto, available

at:

http://www.leg.state.nv.us

You may want to look into the chapters on EXECUTION AND EXEMPTIONS on this site. In this regard, I invite your attention to NRS Chapter 21,

which is found at:

http://www.leg.state.nv.us/NRS/CH_021.html

Under Nevada law, a judgment debtor may keep $4,500 of equity in a vehicle. There may be other laws affecting your ability to resolve your bankruptcy problem, which is necessarily beyond the scope of this reply.

I charge $200.00 per hour for case analysis, advice, suggesting and

recommending alternatives, legal drafting, telephone calls, legal research and obtaining a decree of bankruptcy discharge when I am hired by a client.

If I do not hear back from you by Friday, January 8, 1999, I will assume that you have answered your questions to your own satisfaction, hired another lawyer, or decided against pursuing the matter.

I hope this is of assistance to you.

Paul Malikowski

Law Offices of Paul J. Malikowski

33 West Eighth Street


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Answered on 1/05/99, 4:14 pm


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