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Bankruptcy Law/bankruptcy and liens on a car

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Expert: Norma Duenas - California Bankruptcy Attorney - 12/1/2009


Question
If a collection agency filed a judgement against my assets and only were able to put a lien on my car, if I file bankruptcy is my car going to be taken as a result? I have a older vehicle with lots of miles and it isn't worth more than $500.00. I live in ND.

Answer

Riverside Bankruptcy A
If your car is protected under your states bankruptcy exemptions laws then the fact that your vehicle has a lien from a creditor would not prevent you from keeping the vehicle if you file for bankruptcy. In bankruptcy you can have involuntary judgment liens removed if they impair your bankruptcy exemptions (items that you are entitled to claim as exempt in your bankruptcy based on your states bankruptcy exemption laws). An example of this is if your states exemption law allows for $2,000 in value of a vehicle to be protected in bankruptcy and the judgment lien on your vehicle is for $2,500, then it would impair your bankruptcy exemption since there is not sufficient equity in the vehicle to keep the $2,000 in value of your car after the payment of the lien.

http://www.socaladvocates.com

Norma Duenas - California Bankruptcy Attorney

Expertise

Norma Duenas is a California Bankruptcy Attorney representing clients in Chapter 7 and Chapter 13 consumer bankruptcy cases. Norma Duenas is the founding member of Southern California Law Advocates a consumer bankruptcy law firm. For further information you can visit us at: California Bankruptcy Attorney - Riverside, Los Angeles, & Orange County

Experience

Have filed over 350 consumer bankruptcy cases in Orange County, Los Angeles and Riverside. I have worked previously for Macey and Aleman, the largest consumer bankruptcy firm in the country. Currently I am the owner of Southern California Law Advocates, a bankruptcy law firm with offices in Orange County, Los Angeles and Riverside. Law offices is focused on consumer Chapter 13 and Chapter 7 bankruptcy.

Organizations
California Bar Association American Bar Association Riverside Bankruptcy Attorney

Education/Credentials
University of California, Irvine, BA in Criminology, Law and Society California State University, Los Angeles MS in Criminal Justice University of San Diego, Law School, JD Cum Laude

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