Whether or not a person can retain their car when filing bankruptcy is based upon the value of the car and how much is owed on it.
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Individuals who file bankruptcy often go on to become homeowners although banks typically require larger down payments.
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Chapter 7 bankruptcy allows individuals to get rid of unsecured debt from credit cards, medical bills, personal loans, and utility bills.
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Melvyn Jacoby, the senior managing partner at Jacoby & Jacoby, explains the importance of hiring an experienced bankruptcy attorney on Long Island.
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A bankruptcy attorney from Jacoby & Jacoby will analyze your financial situation, including your assets and debt, in order to determine the best solution to your situation.
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