Need some advice. I sold my car and the equity was converted to cash, approximately 14k. That was the only asset that I owned that had equity as my house has enough exempt equity. My question is, if i file chapter 13, would I be required to pay back the value of the converted equity? (pay back 14k into the plan). And can I keep the cash to live on?
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It depends on what your state's bk exemptions can protect when you file. Which state do you intend to file in?Originally posted by river147 View PostI am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go -
River, it sounds like you already converted the amount that can be exempted in your state and have plans on spending the rest: http://www.bkforum.com/showthread.php?t=59459Originally posted by river147 View Post
Is this a new question about a different vehicle? Or are you talking about the same vehicle?Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.Comment
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