Q's about vehicles and 401K

[jsmith]

My husband and I are not eligible to file for a chanter 7 BK until next year. We are not irresponsible people, we had nice paying jobs in the mortgage and auto industry and my job was out sourced to India, and you know how the auto industry is doing in Detroit. Both vehicles and our motorcycle is paid off. We have 3 mortgages and my question is will the trustee want us to sell our vehicles and motorcycle? We also have a 401K with about 15K, we currently have a loan out on it so we can not take out another will the trustee take that as well?
Thank you for your help!

[drowning123]

Your 401K cannot be taken.

As for your vehicles, it depends on your state's exemptions and all that. Others around here are much better at answering on the vehicles, but I know that your 401K cannot be taken.

I don't know if you can include the 401K loan as a creditor. Someone else may be able to better help you on this.

[jsmith]

Thank you drowning123!