personal bankruptcy small business owner
Filing for Bankruptcy…?
If someone files for bankruptcy, and owns a classic collector’s car, would the car be taken with the bankruptcy?
What exactly is involved with bankruptcy? What will be taken and what will be kept?
This would be an small independent business owner filing for business and personal bankruptcy.
There is a lien against the business and the personal house.
Also, there are 3 vehicles, the collector’s car, and 2 other basic vehicles 100% owned.
There is a chapter of bankruptcy,7 or 14, where you do not lose the things that you already own but if you are paying on things you could lose those or put on a payment plan…
We took a bankruptcy once and did not lose anything..
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