Home equity line

[jb4lcm]

I'm in Arizona. I had a boat payment with Bank O the West - it was $500 a month. Five years ago I used my home equity line to pay it off to lower the payment to roughly HALF. So I received the title on the boat, but I still have the debt. How will a BK trustee view the "asset" of the boat due to having the title? Did I screw myself by "paying it off" with the home equity line?

JB

[newbie2]

I'm in Arizona. I had a boat payment with Bank O the West - it was $500 a month. Five years ago I used my home equity line to pay it off to lower the payment to roughly HALF. So I received the title on the boat, but I still have the debt. How will a BK trustee view the "asset" of the boat due to having the title? Did I screw myself by "paying it off" with the home equity line?

JB

Your boat is now owned free & clear. You paid off the loan and received the title. It doesn't matter how it was paid off, it was.