Welcome To The MN Bankruptcy Blog

Inside you will find over 500 helpful articles discussing the Chapter 7 & 13 Bankruptcy Process and other solutions for difficult financial situations.

 

      Will I Lose My Boat If I File For Bankruptcy?

      Posted by William Kain on July 23

      In Minnesota, owning a boat is a rite of passage. You have probably saved up for years to be able to buy a boat but now a recent financial crisis (i.e. job loss, medical bills, divorce, etc.) has made it difficult to keep up with your bills. You just do not have any money left over each month after paying your necessary living expenses to pay your debts. You are worried that if you file for bankruptcy, you will lose your unnecessary assets such as your boat. You do not need to worry. Many boat owners file for bankruptcy relief and keep their boats they’ve worked so hard for.

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