Can I keep my car if I file for bankruptcy?
You can usually keep your vehicle if you file for bankruptcy. If it has a lien on it and your payments are current, you can continue to make your car payments and keep your car. In Florida, we are limited to the value of a vehicle that you can keep in a bankruptcy. When you file a Chapter 7 if your car does have equity, you will need to keep in mind that you're only entitled to $1,000 of equity in the vehicle when you file a Chapter 7. If your vehicle is more valuable and it doesn't have any liens on it, you may want to consider filing a Chapter 13 so that you can keep your car.