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jointy owned vehicle in Ch 7 BK

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    jointy owned vehicle in Ch 7 BK

    I'm looking to file Ch 7 BK in Maine but need some help about a vehicle. I personally don't own a vehicle but am listed as a joint owner on my mother's car. There is a loan on the vehcile for more than its Blue Book value but the loan is in my mother's name only. How will this be effected in my bankruptcy filing. In Maine, the vehicle exemption is for $5,000 of its value. Thanks in advance

    #2
    You want to list it under assets as a joint owner. It sounds like there isn't any equity, but if there was you could exempt up to $5,000.

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