My mother is going to her 341 Meeting tommorrow but the thing is I put her name on the title of my car when I bought it back in 1995 and so legally it also belongs to her. I live with her in her home. She owns one car herself and is entitled to exempt her car as Texas allows one car exemption but I believe every adult in the household is allowed to keep a vehicle and so I do not (or at least I hope ) think the trustee will take my car. But, the thing is I do not currently have auto insurance on my car and I am wondering if anyone has any experience with a trustee asking for proof of insurance. Does anyone know if we are required to show proof of auto insurance at some point during the bankruptcy process. I know I need insurance and am in the process of looking around for a decent rate but I am not currently covered. My mother does have auto insurance on her car. Any feedback would be appreciated.
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I Would like to know this also.Filed ch7 8/14/07
341 meeting 9/18/07
DISCHARGED 11/20/07
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Well the car is technically an asset of your mothers but as long as this car along whith her personal car dont value over the exemption allowed trustee wont want to take it. As far as the insurance goes is the car paid for? The trustee dont usually ask for proof of insurance but at the same time it not being insured makes it look like an extra car she dont use.Sometimes life make you deal with ugly and hateful people ,just think of them as sand paper. They may scratch you and rub you the wrong way but eventually you end up smooth and polished and the sand paper becomes old and worn out.Comment
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The bankruptcy law requires proof of insurance on all property secured by a lien, such as homeowners insurance, automobile insurance, etc.
( I googled and came up with this phrase several times, and in several states.) We had to bring our paperwork in.
Hopefully someone will confirm this!Last edited by qwertysue; 08-22-2007, 05:03 PM.Filed 07/07, $120k unsecured debt
Plan: $400 (includes cram down) 60 months
Brilliant attorney, decent trustee, awesome planComment
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If it is paid for they probally wont ask but like I said it dosent look well because she has this extra car in her name (even though you say it is yours) and it dosent have insurance so you cant say well I drive it anyway because law says you must have insurance to drive a car. So in the courts eyes it says extra car just sitting there but if it is not valued at much they probally wont mess with it because it isnt worth their time.Sometimes life make you deal with ugly and hateful people ,just think of them as sand paper. They may scratch you and rub you the wrong way but eventually you end up smooth and polished and the sand paper becomes old and worn out.Comment
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This car is a 1995. I paid for it in full with a check when I purchased it and so there is no lien against it. I wonder if they will try to take this old car. It is only worth $2,000 and since my name is on the title (along with hers of course) then if the trustee sold this car, he would only get half of it's value which would be $1,000 and I wouldnt think this would be enough money for all his trouble to sell it and disperse it among all the creditors and then take his cut, whatever his percentage is. Texas law states that you are allowed only 1 car to be exempt but there is another clause that talks about every adult in the household who holds a driver's license is entitled to keep a vehicle. Further thoughts and discussion on this would be most appreciated.Comment
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so you're allowed to drive a car without insurance??? wow!!
What if you hit someone?Comment
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Just get insurance as soon as you can before the time comes for you to send in the documents to the trustee. That will be your proof of insurance.Success is reachable, stretch out your arm and grab it.Comment
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Hello. What happens if you own and live in a co-op or a condo in which you are not requires to have insurance since your home owners association dues cover your insurance?Originally posted by qwertysue View PostComment
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be sure the care is listed on exempt on your monther's bk schedule, but then you open that can of worms about if you are included to add someone as an exemption on as assess then you should be including your income and expenses also. And maybe thats fine, but make sure it won't bring you over the median. The car think may not really be an issue. It is half yours. She owns the 1000 equity, not really the car. Go out and get some cheap liabiity ins. and you are set. Texas requires bare min. on liab. You should be able to get something for 39 bucks up front.....Chapter 7 Pro Se....Discharged Feb. 2006Comment
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Your name is on the title too? If that is the case you get half equity she gets half and I dont think you have anything to worry about.Link the others said make sure it is listed as exempt.Sometimes life make you deal with ugly and hateful people ,just think of them as sand paper. They may scratch you and rub you the wrong way but eventually you end up smooth and polished and the sand paper becomes old and worn out.Comment
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