Gifted a car

[mommi2many]

Hello,

I gifted a car to my grandfather exactly 1 year ago. It was a 98 Plymouth Breeze that was not running and was pretty badly dented thanks to my teenager daughter. It just sat in the driveway till the landlord wanted it removed. We thought about a junkyard but granddad didn't have a car and we had it towed to his house and eventually he got it up and running.

My husband and I both have a car that we still make payments on and at the time we were not considering bankruptcy. I lost my job 2 months later and we managed to pay all bills until 4 months after the transfer.

We did speak to a lawyer who says we qualify for ch 7. I told him about the car and he says don't worry. Well, I would like others opinions as we will be doing this pro se.

Thanks

[SMinGA]

Sounds like the car was not worth much, perhaps nothing more than salvage value for weight at a junk yard. If that is the case - then there would not be a problem.

[BCA2009]

Just disclose it. The trustee might ask you questions about it (probably not). But worst case, he would want to sell the car or have you pay him the value for it. Either way it wouldn't stop the BK. And wouldn't you gladly pay a few hundred more dollars to be discharged from BK? Most likely as soon as he reads that it was a 1998 Plymouth he won't even waste his time asking about it.

[mommi2many]

Thanks. I feel better about this situation now. I would gladly pay a few hundred dollars to get out from under debt. I got the Nolo book and I will be filing this month hopefully.