Law Office of Daren A. Webber

Call Now! 845-615-9108 (Office) 845-776-0201 (Cell)

134 West Main Street
2nd Floor
Goshen, NY 10924
ph: 845-615-9108
alt: 845-776-0201
webberlawfirm@gmail.com

Daren A. Webber, New York Bankruptcy Lawyer

Serving Orange County New York

Question: What Will Happen to My Home and Car If I File Bankruptcy?

In most cases you will not lose your home or car during your bankruptcy case as long as your equity in the property is fully exempt. Even if your property is not fully exempt, you will be able to keep it, if you pay its non-exempt value to creditors in chapter 13. However, some of your creditors may have a ‘‘security interest’’ in your home, automobile, or other personal property. This means that you gave that creditor a mortgage on the home or put your other property up as collateral for the debt. Bankruptcy does not make these security interests go away. If you don’t make your payments on that debt, the creditor may be able to take and sell the home or the property, during or after the bankruptcy case.

In a chapter 13 case, you may be able to keep certain secured property by paying the creditor the value of the property rather than the full amount owed on the debt. Or you can use chapter 13 to catch up on back payments and get current on the loan.

There are also several ways that you can keep collateral or mortgaged property after you file a chapter 7 bankruptcy. You can agree to keep making your payments on the debt until it is paid in full. Or you can pay the creditor the amount that the property you want to keep is worth.

In some cases involving fraud or other improper conduct by the creditor, you may be able to challenge the debt. If you put up your household goods as collateral for a loan (other than a loan to purchase the goods), you can usually keep your property without making any more payments on that debt.

Bankruptcy may be your best option.

The use of the internet or this forum for communication with the Law Office of Daren A. Webber does not establish an attorney-client relationship. The information provided is strictly for educatinal purposes.

Orange County NY Bankruptcy Lawyer also serving the following New York areas: The Hudson Valley, NY; Chester, NY; Florida, NY; Goshen, NY; Monroe, NY; Harriman, NY; Cornwall, NY; Maybrook, NY; Highland Falls, NY; Greenwood Lake, NY; Middletown, NY; Montgomery, NY; Newburgh, NY; Otisville, NY; Port Jervis, NY; Blooming Grove, NY; Tuxedo, NY; Unionville, NY; Walden, NY; Warwick, NY; Washingtonville, NY; Woodbury, NY; Spring Valley, NY; Airmont, NY; Suffern, NY; Chestnut Ridge, NY; Montebello, NY; Nyack, NY; Piermont, NY; New City, NY; Hillsdale, NY; Rockland County, NY; Westchester County, NY; Dutchess County, NY; Amenia, NY; Annandale, NY; Arlington, NY; Bangall, NY; Barrytown, NY; Beacon, NY; Beekman, NY; Billings, NY; Castle Point, NY; Chelsea, NY; Monticello, NY; Clinton Corners, NY; Dover Plains, NY; Fishkill, NY; Glenham, NY; Holmes, NY; Hopewell Junction, NY; Hughsonville, NY; Hyde Park, NY; LaGrange, NY; Milan, NY; Millbrook, NY; Millerton, NY; North East, NY; Pawling, NY; Pine Plains, NY; Pleasant Valley, NY; Poughkeepsie, NY; Poughquag, NY; Red Hook, NY; Rhinebeck, NY; Rhinecliff, NY; Salt Point, NY; Staatsburg, NY; Stanford, NY; Stanfordville, NY; Stormville, NY; Tivoli, NY; Union Vale, NY; Verbank, NY; Wappingers Falls, NY; Washington, NY; Wassaic, NY; Wingdale, NY; Central Valley, NY; Sullivan County, NY and Montgomery County, NY; Bronx, NY; Brooklyn, NY; Queens, NY; Manhattan, NY; Staten Island, NY; Sugar Loaf, NY

Bankruptcy may be your best option.

Important notice required by Federal Law:
We are a debt relief agency pursuant to Federal Law §524 of Title 11 of the US Code. We provide legal assistance and help people file for bankruptcy relief under the Bankruptcy Code.

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134 West Main Street
2nd Floor
Goshen, NY 10924
ph: 845-615-9108
alt: 845-776-0201
webberlawfirm@gmail.com