What if I have an old collectible car – will I lose it if I file bankruptcy? by Mequon, WI Bankruptcy Lawyer

What if I have an old collectible car – will I lose it if I file bankruptcy?  by Mequon, WI Bankruptcy Lawyer

Again, as in so many legal situations, the answer is “it depends.”  When you file for bankruptcy there are limits on the amount of property you will be allowed to keep.  Anything over and above those limits will be liquidated and sold to pay off your creditors.  The key question regarding the old collectible car is – what is it worth?  If you do not have a lot of other assets, the chances of you keeping that collectible are pretty good.  If your estate is full of valuable assets, it may be a different story.  Contact our office today to discuss your assets, and determine your eligibility to file for bankruptcy.

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