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Just the Beginning

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    Just the Beginning

    Yet another 'NEWBIE' here from Washington state. I'm at my wits end and thinking it's time for DH and myself to do the deed. I'm embarrassed and ashamed but hoping I can find answers here.
    I fell of the deep end today as my car blew up and I can't afford to fix it...that was the very last staw! I broke down and registered!

    I have a question about the cars. Ours are old and paid off. My son has a habit of bringing/buying cars home to work on so of course the titles go in our name. Probably within the last year or two we have transferred titles on 2 vehicles. One was an old car that had no motor and didn't run. He sold it for 200.00 and the other I can't remember for sure when it was sold but it was the same situation. He bought it for the wheels and tires. The top was smashed and he sold it as a parts truck. Is this a red flag????
    He also has a '91' Toyota that of course is still in my name (got it at 16, he is now almost 20) It's his pride and joy but is a work in progress. I could not bare for him to loose it. Since mine just blew up I would give that up no problem so can we just claim the toyota as our exempt vehicle? My vehicle is/was a 98 ford expedition.

    I will have a ton more questions but this one has just been eating at me!
    Thank You!

    'sorry about posting in the other thread it was a mistake'

    #2
    I guess I must just be nervous!!!
    That was an '81' Toyota not a '91'

    Comment


      #3
      You'll want to start by reading the sticky titled "Assets and Chapter 7"


      But it sounds like you'll be OK from your description of the vehicles.

      BTW Western Washington here.
      No Asset 7 closed 11/09

      Comment


        #4
        Just disclose everything and you will be fine.
        7-2-2009 Filed
        8-28-09 341 Concluded, no assets
        10-28-09 DISCHARGED/CLOSED!!!!

        Comment


          #5
          check your state's exemption list. You should be able to cover your son's car in that- it's not going to be worth much

          The title transfer's are easily explainable- just like you told us. Now, if you were transferring late model BMW's and Lexus's that would be different.

          It shouldnt raise a red flag with the trustee at all
          Filed Pro Se: 10/16/2009
          341 Scheduled: 11/23/2009
          Last Day for Objections: 1/22/2010
          Discharged: 1/28/2010

          Comment


            #6
            Originally posted by Chowder View Post
            You'll want to start by reading the sticky titled "Assets and Chapter 7"


            But it sounds like you'll be OK from your description of the vehicles.

            BTW Western Washington here.
            Hey Chowder...Western Washington here too!

            I have read that sticky a hundred times but was just still uneasy about it. We could give up everything else but the house and that Toyota! The rest is just stuff but if we lost his truck I don't think I could EVER forgive myself.

            Thanks!

            Comment


              #7
              You'll be fine.
              No Asset 7 closed 11/09

              Comment

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