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    #1

    is this a bad idea.

    I was going down a city street the other day and a guy had a dirt cheap motorcycle for sale($600). My thought was it would be better on gas(44) mpg and my jeep gets 12. I think I would have enough to exempt the cash for it and would likely end up buying a cheaper computer to cover the money anyways.


    I will be filing next month and thought it would look bad when I went infront of the trustee with a purchase be it a 600 dollar purchase.

    Am I right in thinking it would not look good or given it is old(81) and 600 bucks be justified due to the gas saving.

    Not a big deal, just glad it hit me about the bk issue before I agreed to buy it. Though not like it is a harley just an old Suzuki
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    #2
    exempt bike?

    Hi bigtime,

    Can you exempt the bike?

    Are you getting rid of the jeep (now or through the BK)?

    I can't imagine a trustee quibbling about getting a high mileage used bike and losing the gas guzzling jeep.

    Now if you are trying to keep both, my thought is can you exempt both.

    But trustees look for large purchases/transfers, I think you can explain this one easily.

    Good luck with it,

    Tom in Colo
    Ch7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010

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      #3
      Will be keeping the gas guzzler. I need it for those rainy, snowy, days plus the gravel and mud roads I drive. I think I could exempt both. I think what I will do is figure everything I will be exempting and see if I have any left over. Then call my lawyer and ask for sure. I have 8k in a wildcard and figure after my student loan I will have about 7k in exemptions depending on how they figure the value of my jeep.
      Originally posted by tcreegan View Post
      Hi bigtime,

      Can you exempt the bike?

      Are you getting rid of the jeep (now or through the BK)?

      I can't imagine a trustee quibbling about getting a high mileage used bike and losing the gas guzzling jeep.

      Now if you are trying to keep both, my thought is can you exempt both.

      But trustees look for large purchases/transfers, I think you can explain this one easily.

      Good luck with it,

      Tom in Colo

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        #4
        The trustee will not be interested in your 1981 Suzuki.
        Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

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          #5
          wow I was worried about hitting the 8k without the bike, I just did a quick figure and spent 5 minutes wondering why the list is so short. I have about 4200 in exemptions that is including the equity in my jeep, and the computer I will be buying for school (SAD FACE)

          I figured he would not want the bike, though I worried about such a purchase and guess I did not think it came down to can I or can I not exempt it.

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