PDA

View Full Version : I filled capter 7 can they take my car


nealgood1
Jan 6, 2010, 08:19 PM
I filled capter 7 can they take my car having 2 payments left?

Fr_Chuck
Jan 6, 2010, 08:24 PM
your attorney should have gone over that with you.

you will first before you file of course have to prove debt to income ratio. Then in your filing, you have to list all of your exemptions, you are allowed specific ones according to your state law.

If your care value is over the exemtion allowance it may have to be taken by the court.

XTC832
Jan 8, 2010, 06:42 PM
Whether the trustee makes a motion for the sale of the vehicle depends on a couple items. First, what is the "blue book" value of the vehicle? Second, as in the previous post, you are entitled to either a state or Federal exemption for your car, and this depends on your state. In addition to the specified vehicle exemption, you may use, if applicable, the wildcard exemption. The wildcard exemption allows you to exempt an additional $1075 on any property you choose. You also are entitled to the unused portion of the homestead exemption, up to $10200. You may use that on any property you choose as well. Speak with your attorney or leave another post with some specifics and we can figure it out then. Take care.