Trade in vehicle listed in schedules

[secondtimer]

Anyone know if I can trade my existing vehicle that is owned outright for an equally valued vehicle without notifying the trustee? No new debt or monetary gain.

341 was a few days ago. Plan not confirmed yet.

[momofthree]

This is essentially the same as selling your current vehicle and buying a new car in cash with the proceeds. IF the car is valued at more than the amount listed in your confirmation papers (usually around $500-$1000), then you will need tt approval to sell the vehicle.

The good news is that you won't have to petition to take on new debt, which is much more complex than getting approval to sell an asset.

[justbroke]

I would still run this by my attorney. Other than that, I don't see any problems with "exchanging" a car for like value.