Keeping more then one vehicle?

[momof3b1g]

In our state we can only keep 2 vehicles. The 3rd one doesn't run. Is worth like $2000 tops. It needs a new trany among other things. We only paid $4000 for it. Will they still take it? We have 2 other vehicles we will be claiming that run. We don't have any wildcard or anything to exempt it.

[justbroke]

In our state we can only keep 2 vehicles. The 3rd one doesn't run. Is worth like $2000 tops. It needs a new trany among other things. We only paid $4000 for it. Will they still take it? We have 2 other vehicles we will be claiming that run. We don't have any wildcard or anything to exempt it.

Depends. They may decide to "abandon" it, especially if it doesn't run. The key is, the Trustee is looking for things they can convert to cash. A non-running car is usually not even looked at. It's probably not even worth $500.00.

[momof3b1g]

Depends. They may decide to "abandon" it, especially if it doesn't run. The key is, the Trustee is looking for things they can convert to cash. A non-running car is usually not even looked at. It's probably not even worth $500.00.

See thats why this bk sucks. Our attorney said we can only keep 2 vehicles thats it. Of course we haven't put our retainer down yet. maybe he will talk differently once we do. He just told us we can keep 2. Even after he knew it wasn't working and not worth much. We figured we could sell it if they were going to take it anyway. I told dh they probably wont want it anyway. Ya just never now. Or they will make us pay to keep it. He would rather not junk it as it is newer then the one that runs.

[justbroke]

See thats why this bk sucks. Our attorney said we can only keep 2 vehicles thats it. Of course we haven't put our retainer down yet. maybe he will talk differently once we do. He just told us we can keep 2. Even after he knew it wasn't working and not worth much. We figured we could sell it if they were going to take it anyway. I told dh they probably wont want it anyway. Ya just never now. Or they will make us pay to keep it. He would rather not junk it as it is newer then the one that runs.

Your lawyer is telling your what the conditions and accepted practice is. I have read in many cases where the debtor had 5 cars... with 3 of them so junky, that the Trustee "abandoned" them from the BK Estate.

Your lawyer is just preparing your for the reality. The reality is, that the 3rd car will become property of the Estate. Whether the Trustee "abandons" it or not, will be the question.

It is highly likely, and probably, that if it's that much of a junker, the Trustee won't want it.

[momof3b1g]

Your lawyer is telling your what the conditions and accepted practice is. I have read in many cases where the debtor had 5 cars... with 3 of them so junky, that the Trustee "abandoned" them from the BK Estate.

Your lawyer is just preparing your for the reality. The reality is, that the 3rd car will become property of the Estate. Whether the Trustee "abandons" it or not, will be the question.

It is highly likely, and probably, that if it's that much of a junker, the Trustee won't want it.

Yea thats the chance I guess we take. UGH! I want this over and its just begun!