Our clients have a lot of questions when they come to Steidl and Steinberg for bankruptcy help. The most pressing question seems to be, can I keep my house and car after I file?
The good news is, in almost all cases, the answer is a resounding yes.
Even in a Chapter 7 bankruptcy case, where people may be consolidating tens of thousands of dollars from credit card debt, medical debt, and unsecured personal loans, they can keep their house and vehicles. How? When we are preparing your bankruptcy case, we’ll be working under federal or state guidelines for the number of assets you are permitted to keep. In most of our client’s cases, they are well within those guidelines.
That’s not to say it’s a done deal though. In order to keep your house and vehicle, you have to make the payments on them. It may seem obvious to make payments but let’s face it, most clients who come to see us are under stress and might not grasp this idea.
It’s Yours, As Long As You Pay
That’s why we have a three-point system here at Steidl and Steinberg and why we are so responsive when you call or email us. When we get together for a consultation, my paralegal will tell you to make your house and car payments after she gets financial information from you. Then, we’ll send Chapter 7 bankruptcy clients a bright orange sheet with guidelines, telling them to remember to make their car and house payments.
By not having to make those credit card and personal loan payments that were alleviated through the bankruptcy, you should find the mortgage and vehicle payments much easier to handle than they were before. For almost all of our clients, you are going to stay where you are and drive the same vehicle if that is what you want.
As long as you remember to make the payments.
Leave It To Us
Steidl & Steinberg has spoken to tens of thousands of people about bankruptcy law and debt consolidation, and in turn, have filed tens of thousands of bankruptcies for individuals and businesses. Contact our Pittsburgh bankruptcy lawyers (or the lawyers at any of our additional offices) to help you make your payments today!