Keeping Your Vehicle in Bankruptcy

Many people are under the misconception that if you file for bankruptcy, you will lose all of your possessions—including your vehicle. If you have been shying away from bankruptcy for fear of losing your vehicle, you may find comfort in speaking to an attorney about bankruptcy exemptions.

The experienced New Orleans bankruptcy attorneys at The Law Offices of the Law Office of David D. Kervin, Jr., LLC understand that keeping your vehicle is essential to your way of life. Contact us today at 504-599-5906 to learn more about how to file for bankruptcy while maintaining your standard of living.

Vehicle Qualifications

For most people, an automobile is used to perform basic daily activities like going to and from work. As someone who relies on their vehicle, you understand that keeping this asset will play a role in deciding whether or not to file for bankruptcy. Luckily, even if you are facing a large amount of debt, you may not have to give up your vehicle to pay your bills.

Although states may add more exemption laws, federal law stipulates that in order for your vehicle to qualify for exemption, the total value must less than $3000. However, cars that are used for transportation to and from work may also be considered exempt. Since there are many complicated federal and state laws that regulate bankruptcy exemptions, it is important to discuss whether your vehicle is eligible for exemption with a bankruptcy attorney in your state.

Contact Us

If you need to keep your vehicle in bankruptcy, contact The Law Offices of the Law Office of David D. Kervin, Jr., LLC today. We are experienced New Orleans bankruptcy attorneys who understand the issues you are facing. Contact us today at 504-599-5906 for a free consultation.