Lackawanna, NY Bankruptcy Law Firms & Lawyers

First, you don't have a choice; all debts are included in a bankruptcy. It's not pick and chose like a restaurant menu. Second, if your house is worth more than the amount of the mortgage, selling would be no problem.

Your question is a very common question and there is not a perfectly clear answer. If you are correct as to the value of the vehicle, it is unlikely you would lose the car. You have what are called exemptions and they may be sufficient to make it so that the credit card lenders will not bother the car. I am understanding that you actually have the title to your car and that no liens are on the title to the car. You should contact a bankruptcy attorney who can advise you as to the likelihood of losing the vehicle for the credit card debt. Exemptions are important and how long you have lived in South Carolina will affect what exemptions you can claim. Meeting with an experienced bankruptcy attorney may help you determine if this is the proper time to file for bankruptcy. Credit card lenders seldom try to take any property so you may be better off trying to fix what appears to be an income problem.

While I would need to know more about the debt and your finances, my general opinion is no.  $7000 is a small amount of debt in bankruptcy land, and you would do better negotiating a payment plan, or doing nothing, if you are judgment proof, as SSD benefits are not available for levy.