I have recently filed a chapter 13 and included one of my cars that I had a small balance owed on it. I have just been approached on selling the car. Since I do not have a title (the bank has the pink slip) how would I sell the car. Or is it allowed to sell the car while it is in bankruptcy? I appreciate any comments. Thank you
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You would need permission from the trustee before you could sell the car. Once you filed, the car became property of the BK Estate.
Tread carefully here.....since you have a payment which this will pay off, the trustee may increase your plan payment by that amount.Did you file with a lawyer? If so, seek counsel from them before doing anything.
Will this leave you with another car to get around in? If not, you will have an incredibly difficult time financing another vehicle while you are in a 13.
K
Edit : just notice you said this was "one of your cars". First 2 paragraphs still apply though...........talk to a lawyer before doing a thing.You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing
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