Shenwick & Associates a law firm with offices at 116 Plymouth Drive, Scarsdale, NY 10583 Phone # 917-363-3391, Email: jshenwick@gmail.com Website: https://sites.google.com/site/jshenwick/home, email jshenwick@gmail.com. Practice is limited to bankruptcy, workouts, offers in compromise with IRS , office leasing, taxi medallions and failed restaurants Please click the link to schedule a telephone call with me. https://calendly.com/james-shenwick/15min
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Sunday, March 03, 2013
Can I keep a car or automobile if I file for chapter 7 personal bankruptcy?
In New York a debtor can file bankruptcy and keep 1 car that has no more than $4,000 of equity. If the car or automobile is new or has a loan, equity is calculated by taking the difference between the value of the car and the outstanding loan against the car. To determine the value of a car, a debtor can get a letter from an automobile dealer appraising the car or use the Kelly Blue book values
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