Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
the loan was a no doc loan -
can i ask a couple of more questions?
1. during chapter 7 we get to keep some things and have to auction other things off - does this happen at my home or can we move things we are not keeping to an auction site (kind of embarrasing)
2. I have 2 cars - one paid for but run down and has a repair needed that is more than it is worth and a new car that is under a loan that I want to keep - will this be possible to keep both cars
3. even though i want to keep the home and car do i havet o reaffirm the debt or can i non reaffrim it so can walk away later if can't keep pymnts up?
IN TN YOU GET TO KEEP,
$4,000 of any personal property, the trustee will be in charge of selling the items in a bankruptcy sale not done in your home. if you pay the car note you can reaffirm the car, if the repaired car is worth less than $4000, you could keep it by claiming the exemption on it.
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