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  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Will The Bankruptcy Court Take My Car To Pay Creditors?

A frequent concern that clients present to me is, “Will I be able to keep my car, in bankruptcy?” The good news is, in most cases the answer is, “Yes.” However, due to recent rapid inflation of used car prices, it is becoming more difficult to exempt vehicles that are paid off.

If you are in bankruptcy and have any nonexempt equity in a vehicle, don’t panic yet! The bankruptcy trustee won’t come in the dark of night with a cloak and dagger to repossess your car like some lenders. Rather, they will approach you before or during your trustee meeting to present you with an offer for a “buy back agreement.” This agreement allows you to keep your car by paying the bankruptcy estate for the nonexempt portion of the equity in the vehicle. This way, the bankruptcy trustee is able to extract value from the asset to pay creditors and you get to keep your vehicle, a win-win situation for both sides.

Bankruptcy trustees will often let you pay the bankruptcy estate over several months. For example, if your car is worth $10,000 and we can only protect $5,850, your buyback agreement would be structured to “buy back” the remaining $4,150 in vehicle equity. Once your buyback agreement is completed, the court will distribute the funds to your creditors who filed claims forms and then subsequently enter your discharge.

Are you considering bankruptcy, but have a car that you absolutely need to keep? To see how we can help you today, please feel free to reach out to your Yuba City bankruptcy attorney at (530) 797-4402.

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