Am I allowed to keep my vehicle if file bankruptcy?

You can keep a vehicle worth $3,000 of equity. You will have to have an attorney or go to the court's website and follow all of the rules.

You are allowed to keep $2,500 interest in a vehicle using Federal exemptions.? State Exemptions are not as good. You are also allowed to use the catch all exemption for anything you want, like excess car. Hardly anyone loses a car in bankruptcy. But please understand you may not qualify for a Chapter 7 filing. What is that, well there are two types of personal bankruptcy, Chapter 7 and Chapter 13. One is a discharge of debt after seeing if there is any property that can be seized, sold and used pay on the debt (by the way you have to have property in excess of $48,000 value before their can be a seizure - and I would really want to discuss this with you to make sure you should go Chapter 7,) or the other is repayment plan over 60 months at some percentage of your debts, where the court likes to see a 100% repayment if possible. If your income is above the mean income (approximately $45,000 in Washington for one person) you must do a Chapter 13. You cannot do a Chapter 7.

The bankruptcy court usually does allow you to keep your vehicle, provided the equity you have in the vehicle is under the amount allowed for an exemption under state law. In Nevada, that amount is $15,000. However, if you do not keep up the payments or don't sign a reaffirmation agreement, the lender can take the vehicle back. Please, just one question per post.