Hi. I’m Steve Kramer of the
Kramer Law Firm. I’m a Florida bankruptcy attorney. And today
we’re going to talk about a question most people are asking
themselves when they’re ready to file a bankruptcy. And that
question is, “Will I be able to keep my car?” And the answer
is actually a little bit complicated. If you own the car
out right and the car falls below your exempted amount –
meaning you’re allowed to keep a limited amount of assets in the
state of Florida. If you have a car and it’s below the amount of
assets you’re allowed to keep then you’re not going to have a
problem keeping that. Now, the other question arises is what
happens when you owe money on the car? Because when you file
bankruptcy, you’re basically writing off all the creditors
out there. Well, the good thing is one of the things you might
be able to do is called a reaffirmation agreement. And
that’s basically where you agree to continue to be obligated to
the debt and you can keep the car. Sometimes, you don’t
even have to do reaffirmation agreements. Instead you can just
go ahead and continue making the payments like you always have.
But whatever happens we can look at the options before you file a
bankruptcy and then be prepared for whatever comes up once you
file the bankruptcy. And this is why I’m telling you this. This
is something that you should be thinking about and whatever
bankruptcy attorney you meet with should be telling you about
before you file your bankruptcy. If they’re not doing that before
you file the bankruptcy then they’re not doing their job. If
you have questions, call me. I deal with this stuff everyday
and I’m here to help you – anytime you need it. Give me a
call. Also, if you’re watching this on Facebook or Youtube,
go ahead and click the “Like” button below, that way you can
share this information I’m providing you with your friends
and family. Thank you for watching this video. I’m Steve
Kramer of the Kramer Law Firm.