Personal Injury Lawyer
Fort Wayne·Indianapolis
Fort Wayne
(260) 424-0954
(260) 424-0954
Indianapolis
(317) 636-5211
(317) 636-5211

What happens to my home & car?

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.

There are several ways that you can keep collateral or mortgaged property after you file 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.

Explore our helpful links below.

Locations
Fort Wayne

132 E Berry St
Fort Wayne, IN 46802
(260) 424-0954

Warsaw

107 E Market St
Warsaw, IN 46580
(574) 269-3634

Decatur

103 N 2nd St
Decatur, IN 46733
(260) 728-9997

Kendallville

812 N Lima Rd
Kendallville, IN 46755
(260) 242-5253

Indianapolis

845 S Meridian St #1000
Indianapolis, IN 46225
(317) 636-5211

Muncie

425 N High St #7
Muncie, IN 47305
(765) 284-2810

Free
Case Consultation
Click Here