Which bankruptcy can I file if I have mostly closed accounts? - Bankruptcy Law Questions and Answers- LawQA.com

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Which bankruptcy can I file if I have mostly closed accounts?

I am recently unemployed and I have a lot of closed accounts. My car has just been repossessed so I really need to know if I can include it also, and get it back.

Mercado & Hartung, PLLC
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Generally, you would want to file a Chapter 7 if you qualify. However, Chapter 13 has advantages that Chapter 7 does not provide for.

Answer Applies to: Washington
Replied: 8/24/2011

Answer By Kevin Heupel
Heupel Law
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The right bankruptcy depends on your income, family size, assets, and type of debts. Assuming all of your property is exempt from the scenario that you described, then Chapter 7 would be your best option.

Answer Applies to: Colorado
Replied: 8/21/2011

Answer By Janet Lawson
Janet A. Lawson Bankruptcy Attorney
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I do not know how long ago the car was repossessed. It might be possible to get it back in a Chapter 13. It sounds like you are eligible to file a chapter 7 - so see a lawyer.

Answer Applies to: California
Replied: 8/15/2011

Answer By Bill Zurinskas
Bankruptcy Law Center
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As long as you qualify, Chapter 7 bankruptcy is the cheapest, easiest and fastest type of bankruptcy. Most debtors file chapter 7 bankruptcy. If your case has complicating factors, you may have to file a chapter 13 bankruptcy. You can include the liability from the repossessed vehicle in either chapter 7 or 13.

Answer Applies to: Colorado
Replied: 8/15/2011

Bankruptcy Law office of Bill Rubendall
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If you have mostly closed accounts chapter 7 may be the best option. If you recently have had a car repossession chapter 13 might be a better alternative.

Answer Applies to: California
Replied: 8/13/2011

Answer By Michael Johnson
Law Office of Michael Johnson
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You cannot get your car back thru a bankruptcy. You need to have it in your possession to protect it.

Answer Applies to: Florida
Replied: 8/13/2011

Answer By Mark Markus
The Law Office of Mark J. Markus
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Whether an account is open or closed does not determine which bankruptcy chapter you file. That can only be determined by a comprehensive consultation with a bankruptcy attorney, after looking at all your assets, debts, income, expenses and other relevant factors. Most likely Chapter 7 would be what you would file based on the information you provided.

Answer Applies to: California
Replied: 8/12/2011

Ashman Law Office
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Very few repossessed cars are returned. Unless you do a 13 quickly AND pay for the car, the answer as to the car is usually no. Most unemployed people cannot do a 13. ALL your debts must be in the case. Chapter 7 is usually the choice for the unemployed, but without more info as to your past earnings, etc. there is no way to know what you can file.

Answer Applies to: Georgia
Replied: 8/12/2011

Answer By Eric Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis
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Chapter 7 bankruptcy is the most widely employed provision used by people in situations like yours (for those who qualify).

Answer Applies to: Indiana
Replied: 8/12/2011

Grasso Law Group
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If you have no income and no real property you wish to retain, then you can file for Chapter 7 and seek to discharge any remaining debt on your closed accounts. However, if your car has already been repossessed, then unfortunately bankruptcy will not likely help you get the car back.

Answer Applies to: California
Replied: 8/12/2011

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