bankruptcy
Date: Wed, 07/01/2009 - 12:52
the only thing i have a value is a car, i still owe 6k on itits woth is about 8k right now. a credit card company has filed a civil suit against me Midland Funding LLC. i have yet to be served a summons. can i lose my car if i file for bankruptcy even if i still making payments on it, can they garnish my wages in the state of florida where i reside. why would they even bother coming after me who owns nothing
I recently hired a bk attorney in Florida. You can keep the car
I recently hired a bk attorney in Florida. You can keep the car as long as you do not have more thatn $1000 equity in it. $2000 if it is a joint filing. You will be required to reaffirm the debt, which is basically a promise to keep making the payments. They can garnish your wages unless you have a head of household exemption. If they get a judgement, they can also place a lien of your car, and can levy your bank account. For a chapter 7 bankruptcy, you are probably looking at $1500 and up for the legal fees, filing fees, and other expenses. I chose to surrender my car, and include the deficiency in the bk. I do not want to have anything left after the case is discharged.
