What if my vehicle doesn’t qualify as being exempt? If I need to keep it do I have any other options

The first question to ask is whether the vehicle is free and clear (meaning you do not owe any money on it). If your vehicle does not qualify as exempt and it is free and clear there are a few options to deal with this. Depending on the value of your vehicle it is possible to purchase it back from the bankruptcy estate. If the value of your vehicle is too much to repurchase in a nine month period it is possible to have your bankruptcy extended for a longer period of time to make the payments. A proposal may also be a good option in this circumstance. In a proposal your assets do not vest/transfer to the Trustee. You may be able to come up with a proposal to your creditors that would allow you to keep your vehicle. If your vehicle is financed or leased you would be responsible to continue making payments directly to the company or bank that financed it. If a Creditor has your vehicle for collateral they are classified as a Secured Creditor. A secured creditor who financed the purchase of your vehicle is entitled to either the payments on your vehicle or the vehicle back. You would have to make an arrangement directly with the secured creditor to keep your vehicle in this situation.