You are allowed to keep a motor vehicle worth up to $5,650 if you file for bankruptcy. If your car is worth more than that then you will be required to pay the excess (the amount your car’s worth exceeds $5,650) to your trustee as part of your bankruptcy if you want to keep the car.
You are allowed to keep a motor vehicle worth up to $5,650 if you file for bankruptcy. If your car is worth more than that then you will be required to pay the excess (the amount your car’s worth exceeds $5,650) to your trustee as part of your bankruptcy if you want to keep the car.