QUESTION
If I do a bankruptcy, will I be able to keep my 4-wheeler that’s been financed?
Asked on Apr 20th, 2017 on Bankruptcy - Oregon
4 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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You can keep any vehicle in bankruptcy, if you're willing (and able) to pay for it. What bankruptcy doesn't do is allow you to keep a vehicle without paying for it.
Answered on Jul 18th, 2017 at 8:28 PM
In order to answer your question, I would need to know whether the 4-wheeler has any equity, and if so, how much and whether you own any other vehicles with equity. Equity is the value of the item, minus the loan balance.
Answered on Jul 17th, 2017 at 2:29 PM
That depends upon a great number of factors which should be discussed with an attorney. It is certainly possible if all the circumstances seem right.
Answered on Jul 16th, 2017 at 7:20 PM