Creditors and Bankruptcy/keep the rv

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Question
We have been trying to hold on for some time now.  we have come to the conclusion that we can no longer do so.  The reason we are in the position is obvious we spent outside our means.  So even a terrible disease and a job change to  lower paying job does not excuse our situation. Here is my question.  We own a rv paid in full that we lived in when we sold our home a few years ago and built another one.  We will be losing the home that we are currently living in, in the bankruptcy.  We are considering living in the rv again for a very short time until we can find a house in our area to rent.  Will they be able to take the rv because it is paid off?

Answer
Dear CG,

Thank you for your question.

It's an unfortunate situation your in.  You are allowed certain exemptions, these vary by state, if you have have money over the exemptions or property valued at over the exemptions, yes they can force you to sell the RV.  

We may be able to provide a solution without filing bankruptcy

Contact us at 888-686-6834 for more information

Ontrack Financial Group llc
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Creditors and Bankruptcy

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