White, GA Bankruptcy Law Firms & Lawyers

It depends. Pay stubs/advices for six months are required. You should gather your bank statements and other records for 12 months if possible and income tax returns for the past two years. Information about property purchases and tranfers for the past four years may be requested by the trustee.

If it's financed, then payments need to be kept current in order to retain the vehicle. Some loan companies compel reaffirmations (re-signing of the loan during the bankruptcy), if you wish to retain the vehicle. In chapter 7, a trustee will determine if there is nonexempt equity in the vehicle, which could be a basis for its liquidation. Since most bankruptcy debtors either have low-value vehicles or heavily financed vehicles with little equity, and CA has good exemptions, then liquidation is rare. This answer (as well as our Web site) doesn't address all facts & implications of the question; it's general info, not legal advice to be relied upon; it creates no attorney-client relationship; it may be pertinent to CA only; it's independent of other answers. Hire legal counsel before acting or refraining from bankruptcy/legal action.