Woman Driving Car

Can I Keep My Car or Truck?

Our Bankruptcy Attorneys in Nashville, Murfreesboro, and Columbia Can Help!

Avoiding Vehicle Repossession and Liquidation

If you need a car in order to get to work or take care of family errands, or if you make your living by driving your own truck or another commercial vehicle, avoiding repossession or liquidation of your vehicle is probably a very high priority.

At Flexer Law, our bankruptcy lawyers work with the protections offered by bankruptcy law to help our clients keep their cars and trucks. Contact one of our experienced bankruptcy lawyers today to set up a free consultation. We have offices in Nashville, Murfreesboro and Columbia.

Using Bankruptcy to Save Your Car and Reduce Your Payments

The automatic stay provisions of bankruptcy law can put an immediate stop to any pending repossession the moment you file bankruptcy. In some cases, the automatic stay can also be used to recover a car or truck that has been repossessed but not yet sold at auction.

While auto loans are secured loans that cannot be completely discharged in bankruptcy, there are several techniques that can be used in both Chapter 13 and Chapter 7 bankruptcy to reduce the amount that you owe so you can keep your car or truck. These include:

  • Reducing your interest rates

  • Extending your amortization schedule

  • Redeeming the secured portion of your loan

  • Repaying your arrears on a Chapter 13 payment plan


We have helped many clients keep their cars and trucks by reducing their monthly payments and reducing the amount on which they have to pay interest (commonly known as “cram downs”). In some cases, these techniques and strategies can also be used to modify the terms of leases.

Planning to Make Sure You Can Keep Your Car in Chapter 7

If you are not facing repossession but are considering filing bankruptcy due to other debts that you owe, it is important to consider whether you will be able to keep your car or truck. Under Tennessee law, a limited amount of equity in a vehicle is exempt from liquidation in Chapter 7. Since many vehicles are worth less than what you owe, equity and exemption planning may not be an issue. When it is an issue, however, our bankruptcy attorneys are skilled at maximizing the amount of equity you can exempt so as to make the vehicle burdensome to the Chapter 7 trustee.

Our attorneys work closely with our clients to plan out the most effective approaches to keeping their cars and trucks in bankruptcy. Don’t hesitate to contact our Tennessee bankruptcy lawyers to learn more about your options.