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Selling Vehicle prior to filing

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    Selling Vehicle prior to filing

    Carmax offered me 19k last night for my Vehicle that i thought was worth 22 or 23 as a trade in. I owe roughly 19500.

    I am wondering if it is worth it to list for sale on autotrader, ebay, CL. etc in attempt to get max value, or would any excess $$ get taken by the Trustee?

    I have yet to pay for the attorney, just had a consult - I assume if i had extra money from the sale the attorney expense would be justifiable. There is of course no guarantee i will get what i think should for my vehicle, just wondering if it's worth the effort and possible expense or would they take any additional money anway?

    #2
    If you can sell your car for 3 or 4k more than you owe then you can spend the money on living expenses, medical bills, home repairs,pay your attorney etc. prior to filing. What you don't want to do is file with that cash on hand in FL

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      #3
      You could spend the "profit" on necessities which could include the attorney fees. There is always a difference between what you'll get in a third party transaction (selling to anyman on the street) and selling it to a dealership. You must remember that the dealership still needs to make a profit on it. They are in business to make a profit.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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