Posted on
November 16, 2009
at
11:24 am
I'm thinking about filing ch 7, I have a car that is paid for and is worth about $10,000.Can I just put it another persons name so nothing will happen to it? is there a time period that I would need to do that in?
Posted on
November 30, 2009
at
9:06 pm
Consult with a bankruptcy attorney in regards to the value of your car, and how you can protect it, using the allowable exemption laws in your state. The court would understand if that car is necessary for your everyday use and may consider it as an exemption.
Posted on
November 30, 2009
at
9:10 pm
May I ask why you are filing Chapter 7?Are your debts mostly unsecured (credit card) (?) because if that were the case, you might want to try the alternative to bankruptcy, - Debt Management Plan or Debt Settlement, - both debt relief options would save you from the trouble of transferring ownership of that car.
Em Rep Points:
Posted on
December 2, 2009
at
2:55 am
Question about bankruptcy - automobile - Your concern is somewhat unusual because the usual questions about this topic are those that concern cars that are not yet fully paid.Ex.In a Chapter 7 bankruptcy, if the car is not yet fully paid, the consumer can either continue making the monthly lease payments or return the car back to the creditor.
Posted on
December 2, 2009
at
3:20 am
Question about bankruptcy - time periodYou are probably referring to the 910 days claims in Chapter 13 bankruptcy - in which
If you bought your vehicle within 910 days of filing your bankruptcy case, you must repay the entire car loan. If you bought your car more than 910 days before you file bankruptcy, you will only have to repay an amount equal to the present value of the car.Questions about cars and Chapter 7 would be about loans. If you want your agreements with the lenders to be reaffirmed or something about your right to purchase or redeem your car from the creditor.
