Quick question, I live in AZ, I purchased an RV a month before I found out I am being laid off, with things as bad as they are, I'm wanting to find out, if I file ch 7 bk on everything (home, cc bills, loans and RV), will I be able to keep the RV as it will be my my primary residence after I lose the house? Any advice / reference would be appreciated.
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Last edited by AngelinaCat; 08-01-2013, 04:56 AM. -
Hi Not2sure:
Welcome to the Forum.
I move your post into a thread of its own where it is more likely to be seen, rather than at the end of that very long, older thread.
Here is an article by some of the folks at NOLO Press, regarding Arizona exemptions:
Are you going to be filing singly, or do you have a spouse?Last edited by AngelinaCat; 08-01-2013, 04:59 AM."To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed." -
More info please: Is this an RV paid in full, or do you owe?
To be frank, it is hard to do what you are hoping to do. Tell us more about your overall filing and maybe we can help. We need to know about assets, the status of the house, etc. I am also curious about why you feel you will "lose the house".Comment
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If there's a loan on the rv, how much equity do you have? How much equity do you have in your home?LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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An RV is treated as a motor vehicle, not as real estate, and thus cannot fall under the Arizona homestead exemption. If you have little or no equity, you might still be able to keep it, but if you own it outright, that's not very likely. In any case, you might as well keep your house as long as possible, even if your endgame is to let the bank foreclose. Each month you delay the foreclosure is one more month you don't have to pay rent to live somewhere else.Comment
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