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    #1

    Car will be paid off next month...

    Hello all,

    My last car payment is in June and I will own it. I am going to file Chapter 7 in a few months.

    My car is valued at $8,000 retail according to blue book.

    Will I be able to keep the car? I have no other assests other than personal property like clothes, a TV, cds, books, etc.
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    #2
    Depends on how much equity your state allows for an auto exemption.

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      #3
      Originally posted by keepmine View Post
      Depends on how much equity your state allows for an auto exemption.
      True, but you might be able to apply exemptions to overlap what you do not own.

      Depending on the age and condition of the car, it just may be abandoned by the Trustee. Don't go by KBB except for trade in value in moderate shape. Does not mean what it is worth to you, but to others and the trouble to sell it. 'Hub
      If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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        #4
        I'm in California.

        it's a 2005 and it's been customized with body work and mechanical to where it is no where near stock.

        It also has repairs to the tune of over $4000 - has anyone guessed by now it is an American car?
        Last edited by LeadSledGal; 05-18-2010, 11:25 AM.

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