Selling a car?

[overourheads]

My husband and I have 4 cars. Two running and we're using our exemptions on and two non-running and really only worth about $1000 total. The original plan was to sell them but we didn't want to sell them while the bk was in motion. Our 341 hearing is next month.

Yesterday, someone stopped and asked if they could buy one of the cars thats not running for a few hundred bucks. If we sold it before the 341 hearing, would it be considered getting rid of assets?

[tinfoilhat]

If the cars are titled in your name, then probably yes. If the buyer wants a parts car and needs no title, sell it and keep the title. If you do that then you run the risk of the buyer stripping it and dumping it in the woods, when it's recovered you get fined.

Or wait it all out with your fingers crossed and turn in the top half of the title when the BK is closed. The top half of the title says you sold the car, and releases your responsibility of it if the buyer doesn't transfer the title to his/her name.
A lot of people forget to do this anyway.

In other words take these chances or keep the cars.

[lrprn]

Yesterday, someone stopped and asked if they could buy one of the cars thats not running for a few hundred bucks. If we sold it before the 341 hearing, would it be considered getting rid of assets?

YES - don't sell the car!

You cannot sell an asset listed in your filed bankruptcy without your trustee's prior permission. And in this situation if you ask for permission, depending on the amount being offered for the car, you may just turn yourselves into an asset case. You don't want to go there.

If you filed with a lawyer, call and get his/her advice about how to proceed in this situation. If you filed on your own, then ask the seller if they would be willing to wait for a few months to purchase the non-running car. After your case is discharged and closed, then you can do whatever you want with any of your assets. Before then, all listed assets are property of your bankruptcy estate and controlled by your trustee.