Vehicles in chapter 13
We are probably filing BK13 soon. We have two three vehicles: a $2k car that our daughter drives to work and school; a $7k? vehicle that I drive to work; a $9.5k vehicle that my wife drives to work and for family transportation. All are fully paid for (with HELOC). Attorney thinks we can keep daughter's and wife's vehicles, but must reaffirm mine for $7k to be distributed to creditors, since we have no other secured credit, except home (reaffirming). What if I trade mine on a slightly more expensive vehicle with low payments and reaffirm? Would we be able to keep all three and pay less (or nothing) to unsecured creditors? Thanks.
-
-
I'm confused by the term "reaffirm" although you posted this under Chapter 13. Is this a Chapter 13 filing?Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt. -
Haven't filed yet, but, yes, it would be a 13.Comment
Bankruptcy Wizard
Comment