Whether you can or should keep more than one vehicle after you file for bankruptcy will depend on several factors regarding your realistic needs and vehicle titles. You should consult with your bankruptcy attorney before you sell any vehicles you currently own.
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Questions About Bankruptcy
Does bankruptcy affect my driver’s license?
You will not lose your driver’s license if you file for bankruptcy.
If your driver’s license has been suspended, in a select few cases, such as where you lost your license only because you failed to pay court-ordered damages resulting from a traffic accident without injury, you may be able to have it reinstated.
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Can I eliminate my credit card debt?
Yes, upon completion of a bankruptcy your credit card debt will be discharged (meaning that you no longer owe the debt). We have helped tens of thousands of Hoosiers eliminate credit card debt.
Can I discharge medical bills?
Yes, just like credit cards, the successful completion of a bankruptcy will discharge medical bills.
A very high percentage of our clients feel overwhelmed by medical bill collectors and need relief offered by bankruptcy to stop the collection and get rid of that debt.
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Can I discharge federal, state, or local taxes?
Under limited conditions, you may be able to discharge some taxes you owe, but you need to carefully determine if your tax debt actually meets those conditions.
If you have tax debt and are considering filing for bankruptcy, you should definitely contact us or consult with another bankruptcy attorney.
What is an automatic stay?
In U.S. bankruptcy law, an automatic stay prevents most creditors from collecting or contacting a debtor who has filed for bankruptcy.
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How will bankruptcy affect my credit score?
Naturally, filing for bankruptcy will negatively impact your credit score. The severity or long-term influence on your credit score will vary in each case, but after you file for bankruptcy you can begin right away to slowly rebuild it.
If you are reading this answer, you might want to discuss your situation with a bankruptcy attorney soon. For immediate assistance, please contact us.
How do I rebuild my credit score after bankruptcy?
Maintaining a steady job and residence at one location are good steps toward rebuilding your credit score. For more information about steps you can take, read Bankruptcy and Credit.
For a free consultation, please contact us.