Title:

What Happens to a Car in Bankruptcy

Description:

One of the scariest things about undergoing bankruptcy is the potential loss of possessions, but there are a number of items that a bankruptcy wouldn't take and that a Riverside California bankruptcy lawyer would be able to advise were not a part of a liquidation of assets. Also, different types of bankruptcies offer different methods for repaying and satisfying debt. Chapter 7 bankruptcy would allow for a protection of a car and its loan debt. Chapter 11 bankruptcies would generally allow a person to reorganize debt and make payments on a different schedule that would eventually satisfy debt.