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  1. #1

    Unhappy Chapter 7 and Losing Your House or Car

    My question involves bankruptcy in the state of: NY we have been behind on our mortgage as the payment sky rocketed after a refinance. After speaking to an attorney we decided on a chapter 7. we own the house valued at over $550,000 and we own a car valued at $19,000 (no liens on it). we know they will take our house but will they take our car as well? We desperately need this car for work etc. we thought asking this forum may help . Its a terrible thing even the thought of filing, but we need a fresh start now.. I just don't want to lose our car.we seem to have lost everything.

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
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    Default Re: Chapter 7 and Losing Your House or Car

    Your equity in the car is well above the standard exemption for a motor vehicle. Talk about your exemptions with your bankruptcy lawyer.

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