If you are behind on your debt payments and fear default or repossession, bankruptcy may a solution to keeping your motor vehicle. Contact us online or schedule a consultation at any of our three conveniently located offices. When filing a bankruptcy case, individuals must disclose their entire financial history up to the present. Individuals must file schedules of their assets and liabilities. Assets include bank accounts, retirement accounts, motor vehicles, and real estate.
Recent bank and retirement account statements must be provided to the bankruptcy trustee for each and every account.
Information For Motor Vehicles
Typically, proof registration and insurance may be required. Often, a credit report will provide sufficient information regarding a motor vehicle.
Information for Real Estate Assets
Depending on the perceived value of the asset, a debtor may need to provide proof of the property’s value in the form of a real estate appraisal. This may take the form of a broker’s price opinion or full appraisal depending on the potential amount of equity in the property or the guidelines of the federal district where the bankruptcy case is filed. Mortgage statements showing current loan balances, deeds of trust, and proof of home insurance may also be required.
The experienced Sacramento metropolitan area/Northern California attorneys at the Montefalcon Law Offices are here to help you if your financial position necessitates the consideration of a bankruptcy case filing under Chapter 7, 11, or 13. Contact us online or schedule a consultation at any of our three conveniently located offices. Telephone our downtown Sacramento office at (916) 444-0440, our South Sacramento office at (916) 399-9944, or our Concord office at (925) 222-5929.