Bankruptcy doesn't have to be something bad.
It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Can I Keep My Car?

Many individuals turn to bankruptcy in order to escape insurmountable levels of debt. When individuals file for Chapter 7 bankruptcy, it is possible that they may be required to sell some of their assets in order to pay back creditors.

Many people require some basic, although expensive, properties. In particular, many Americans rely on their cars to get to and from work, making the potential loss of this property truly devastating. Fortunately, most individuals and families who file for Chapter 7 bankruptcy are able to avoid losing their car.

For more information regarding your options during bankruptcy, contact the Birmingham bankruptcy attorneys of Greenway Bankruptcy Law, LLC, at (205) 324-4000 today.

Grounds for Retaining a Car

There are a few requirements that must be fulfilled before a person can keep his or her car or truck. In particular, the worth of the vehicle and the amount owed by the debtor can play an important role in determining whether or not a vehicle can be kept.

Additionally, loans on a vehicle may need to be reaffirmed even if a bankruptcy trustee does not take that vehicle. The following are some ways a vehicle can be saved in bankruptcy:

  • The amount owed is greater than the worth of the vehicle
  • A special agreement may be created if there is equity on the car
  • The vehicle is instrumental to a person’s job / livelihood
  • The loan on the vehicle is reaffirmed with the creditor

There may be other options available according to various bankruptcy exemptions, as well. Not only can state-specific exemption laws help debtors keep their property, but trustees may be willing to work out additional exemptions under certain circumstances.

Contact Us

To determine how the law can help you keep important pieces of property, contact the Birmingham bankruptcy attorneys of Greenway Bankruptcy Law, LLC, today by calling (205) 324-4000.

"When I had my power cut off because I just didn't have the money to pay the power bill, a friend suggested I call Paula Greenway. From the moment I walked in her office I felt like a burden was lifted from my shoulders."
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"I would just like to say that I was impressed by the staff of Greenway Bankruptcy Law, LLC and their attention to professionalism. They made the bankruptcy process not only pleasant but simple."
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I can't tell how comforting it is to know your attorney is working on your case. I would and have recommended their service to friend and associates."Ed H.
"I would like to thank Greenway Bankruptcy Law, LLC for the way in which they handled my bankruptcy case."
Robert M.
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Greenway Bankruptcy Law, LLC
505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
Tuscaloosa: (205) 737-3350
Gadsden: (256) 467-6650

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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

Greenway Bankruptcy Law, LLC 505 20th St N #1220, Birmingham, AL, 35203 | Phone Number: (205) 324-4000