Bankruptcy - Can I Keep My Bike?

YOU USUALLY CAN. 

In bankruptcy, you are entitled to keep certain exempt assets.  You can almost always keep your vehicles with loans on them and little equity if the bank allows you to reaffirm your debt on the vehicles.  They usually do since they do not want a used vehicle.  You can also keep vehicles with equity if the value fits under your state or federal exemptions that you should discuss with your attorney. 

Know your rights.  If you are struggling financially, consult with an attorney who probably would be willing to speak with you for free over the telephone to help you evaluate your best option.  Keep riding and stay safe.

Articles contained here are not intended to provide legal advice, only providing general information. We encourage individuals to consult with an attorney regarding individual circumstances.