Keeping my car in a Bankruptcy

[eli4625]

What is the name of your state (only U.S. law)? IN
I am considering filing a chapter 7. However I would like to retain my car and keep paying on it. I have had it for 3 years and have never missed a payment. My problem lies in overextending myself in credit cards and a very large student loan payment. I understand I can not put the Student loan in, but freeing me up from previous bad credit cards and my present ones would help greatly. So can I file a Chapter 7 and keep my car?

Also I was granted a bankruptcy back in the 90's, and was told after 7 years you could file again, is this correct?

 

[racer72]

A lot is going to depend on how much you owe and how much the car is worth. Indiana does not have a specific exemption for motor vehicles, it will be part of your $4000 wild card exemption. Depending on your other exemptions, you many not be able to keep the car.

Indiana Bankruptcy Exemptions

It's now 8 years between bankruptcies.