Hi, I'm just starting the process of looking into filing for chapter 7 bankruptcy individually. The majority of our debt is cc debt in my name only. We have 2 older vehicles that are paid for. Our 1998 truck is in my name and has a KBB private party value of about $2200 which is under the NY exemption. My husband, the non-filing spouse, has a 2003 Dodge Grand Caravan in his name which is worth about $4600. They won't take that car since it's in his name, will they? This whole process is so anxiety inducing. We're saving up to pay for a bankruptcy attorney so I haven't been able to ask all of the many questions that I have yet. Thanks for your help!
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Double-check the title for the vehicles as they are filed with the state. You will need them for the Trustee anyway, so go online and pull them. Ensure that the names are what you think they are. If they are not, don't panic, and DO NOT change them. Your attorney will advise you. But don't worry about losing anything.
Another issue would be whether filing alone is reasonable or even recommended. If there is even one debt (card, vehicle, house, medical bill) that has his name listed as a guarantor that could make a mess. Not that it can't be done - an attorney will want to see EVERYTHING - but it can get more complicated. -
You need a good attorney, experienced with handling this type of filing. I had a similar situation--me filing, wife not. The Trustee seemed to take a dim view of this, and kept "trying" to drag my wife's income and assets in to the situation. That is where things get tricky. My wife refused to "play." She wrote a letter stating that she did not file BK, did not run up bills in her name, and was not now going to see her income/assets used to pay off my old debts. My atty essentially dared the trustee to try and compel a non-filing individual to cooperate. The trustee dropped the issue. Obviously your case may not be the same issue(s); big points: get an experienced atty (I literally looked at the BK court docket and got some names of attys who seemed to handle a lot of issues/motions); yes there is anxiety involved in this. But, it is just a business/financial decision. Use it as an opportunity to take charge of your finances in a positive manner.Comment
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