Can You Keep Your Car or Home After Filing for Bankruptcy?

The information provided is for general informational purposes only and does not constitute legal advice.  Every legal situation is unique, and you should consult an experienced attorney for advice tailored to your specific circumstances. For personalized assistance, contact our office directly.

One of the biggest concerns people have about filing for bankruptcy is whether they’ll lose their car or home. The good news is that in many cases, you can keep these essential assets while still eliminating debt.

As a bankruptcy attorney in Sebring, Florida, I’ve helped many clients protect their homes, cars, and other vital possessions. Here’s how bankruptcy can help you safeguard what matters most.

Protecting Your Home in Bankruptcy

Florida has some of the most generous homestead exemptions in the country, which can protect your primary residence in bankruptcy.

• Chapter 7 Bankruptcy: If your home equity falls within Florida’s exemption limits, you can keep your home. If not, other strategies may still allow you to protect it.

• Chapter 13 Bankruptcy: This option lets you include past-due mortgage payments in your repayment plan, helping you avoid foreclosure and stay in your home.

Keeping Your Car in Bankruptcy

Cars are often essential for work and daily life. Fortunately, Florida exemptions also protect a portion of your car’s value.

• Chapter 7 Bankruptcy: If your car’s equity is within the exemption limit, you can keep it. If not, you may be able to negotiate a “redemption” or reaffirm your loan.

• Chapter 13 Bankruptcy: This chapter allows you to catch up on car payments through a manageable repayment plan.

Why Timing Matters

To protect your assets effectively, it’s important to file for bankruptcy before repossession or foreclosure actions escalate. Acting quickly gives you more options and stronger protections.

Let Me Help You Protect What Matters Most

As a bankruptcy attorney in Sebring, Florida, I’m here to help you navigate these challenges and protect the things you value most. I’ll guide you through the process and ensure your rights are fully protected.

Call Today to Safeguard Your Future

You don’t have to choose between debt relief and keeping your home or car. Call me at [insert phone number] for a free consultation. Together, we’ll create a plan to eliminate your debt and protect what matters most. Take the first step toward a brighter future—call today!