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O'Bryan Law Offices
O'Bryan Law Offices

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Family-Owned Bankruptcy Law Firm

Save Your Car


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  5. Benefits Of Bankruptcy
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Safeguarding One Of Your Most Significant Assets

Your car is likely an indispensable asset to you. However, whether you have significant debt from other sources or fall behind on your car loan payments, your car could be in danger of repossession.

Many assume that by filing for bankruptcy, they will lose valuable assets like their vehicles. At O'Bryan Law Offices, we understand your uncertainty and seek to find ways to allow you to seek financial independence and protect your car. With over 50 years of experience, board-certified founding attorney Julie O’Bryan and her team of skilled lawyers can explore your options.

How Chapter 7 Bankruptcy Can Save Your Car

Many individuals file for Chapter 7 bankruptcy, which can discharge unsecured debts. If you are current on your car payments and your equity in your vehicle does not exceed the exempt amount, you may be able to keep your car. Chapter 7 bankruptcy can relieve you of your obligations to pay certain debts, freeing up assets to pay for your monthly car payment.

The Benefits Of Filing For Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows for a reorganization of your debts. For those wishing to protect their vehicle, the benefits of filing for Chapter 13 bankruptcy include:

  • The potential for lower monthly payments and interest rates
  • The ability to repay both past due and current payments over an extended period
  • The ability to potentially keep your car even with overdue payments
  • The ability to get your car back after repossession if it has not yet been sold

Chapter 13 can offer you more financial flexibility by allowing you to pay off your debts over an extended period. This can allow for more room to pay off your car payment.

Determining How To Protect Your Car

Our family-based law firm has assisted individuals and families across Kentucky and Southern Indiana for the past 30 years. Taking a team-oriented approach, you will work with an attorney and two paralegals assigned to your case. When keeping your vehicle is a concern, we efficiently identify your options based on your unique financial situation.

Discuss Your Options With An Attorney

Learn how filing for bankruptcy can help protect your car by scheduling a free initial consultation with our lawyers. We have offices in Louisville, Frankfort and New Albany. Call us at 502-400-4020 or send us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.