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Would my car be exempt from bankruptcy?

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sirflapjack

Junior Member
What is the name of your state (only U.S. law)? tn
I have recently gained employment as a pizza delivery driver and I am wondering if my car would be exempt since I need it for my job?
 


bigun

Senior Member
Depends on the amount of excess equity. If it's minimal, the trustee will likely abandon any interest in the car. If there is a lot of excess equity you'll have to come to some arrangement with the trustee to buyout the equity.
Have you spoken with a lawyer? Most bk lawyers will give a free or lowcost inital consultation. Speak with a few and see how this is handled in your district.
 

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