3 Cars

jjosephmn

Junior Member

Joined: Mar 2010

Posts: 6
#1

3 Cars

03-16-2010, 07:01 PM

I will be filing chapter 7 jointly with my wife in the next few days. My question is I have 2 cars and a motorcycle. 1 car has negative value. Other car is covered under exception. The motorcyle might have value of $1500.00 which is less than the maximum value. Do you excempt all vehicles.
Thank You
Tags: None
momofthree

Senior Member

Bankruptcy Tutor

Joined: Jan 2010

Posts: 1678

State: California
#2

03-16-2010, 07:18 PM

We have 3 vehicles and a motorcycle. We exempted them all...

Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
0% payback to unsecured creditors, 56 payments down, 4 to go....
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ItsJustMe

Senior Member

Bankruptcy Newbie

Joined: Apr 2009

Posts: 121

State: California
#3

03-16-2010, 11:06 PM

We have 2+1 and were good.
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