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Mercado & Hartung, PLLC | Christopher J. Mercado
You will need to schedule the car and exempt it using your state's statute (or federal if allowed). Contact a local attorney for specifics.
Answer Applies to: Washington
Replied: 3/5/2012
Ipson Law Firm, PLLC | Michael Ipson
You will likely need to reaffirm your contract with you lender or redeem it if you owe money and want to keep the vehicle and are filing under ch 7. If your are filing under ch 13. You simply need to make the scheduled payments. If you owe your car outright or own substantial equity beyond the exemption you will likely lose the car.
Answer Applies to: Utah
Replied: 2/22/2012
Bird & VanDyke, Inc. | David VanDyke
Yes. The Trustee will determine if you are exempting you vehicle correctly becuase is you don't he or she may take the vehicle from you, liquidate it and use the proceeds to pay your creditors. Most people are able to exempt their vehicles. You do need a working knowledge of CCP sections 703 and 704.
Answer Applies to: California
Replied: 2/21/2012
Philip R. Boardman, Attorney at Law | Phil Boardman
The law allows for the exemption. You just have to list the exemption in the bankruptcy schedules.
Answer Applies to: Virginia
Replied: 2/21/2012
Law Office of Susan G. Taylor | Susan G. Taylor
The chapter 7 trustee has until 30 days after the final creditors' meeting to determine the exempt status of your assets. If by then he hasn't objected, you're home free
Answer Applies to: Texas
Replied: 2/20/2012
HERNANDEZ & SUAREZ, PL | YAHIMA SUAREZ
An automobile is automatically exempt up to a $1000 value unless you do not have homestead property, in which case you can use the credit of the homestead property towards the automobile for an additional $3,000 value.
Answer Applies to: Florida
Replied: 2/20/2012
McCallum & McCallum | Donald G. McCallum
The amount of equity in your vehicle is limited. If the equity in the vehicle is substantially larger than the allowed exemption, the trustee can sell your vehicle; pay you the amount of the claimed exemption to you;and use the rest to pay your creditors.If you select the CCP 703 exemptions, and you have little or no equity in your home, you will be able to exempt in excess of $20,000 in equity.
Answer Applies to: California
Replied: 2/20/2012
The Barrister Firm | Christopher Benjamin
You should speak with an attorney to determine if you have enough exemption values to exempt the entire vehicle value.
Answer Applies to: Florida
Replied: 2/20/2012
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Whether you can keep a vehicle or not in bankruptcy has nothing to do with approval but rather it is a matter of law.
Answer Applies to: Indiana
Replied: 2/20/2012
The Law Office of Darren Aronow, PC | Darren Aronow
When you prepare your exemptions you have to file the car on schedule b and the exemption for that car on schedule C, if your equity in the car is higher than your exemption, then the trustee will seize your car or demand that you pay the difference between your exemption amount and the value.
Answer Applies to: New York
Replied: 2/20/2012
Ashman Law Office | Glen Edward Ashman
You are about to commit financial and legal suicide. Do not ruin your life and file pro se. Exemptions and keeping (or losing) vehicles is something that you will mess up without legal help. Save yourself from disaster. Abandon your pro se plans, and get a lawyer. It will save you money.
Answer Applies to: Georgia
Replied: 2/20/2012
Law Offices of Joseph A. Mannis | Todd Mannis
The Trustee is the one who administers your assets. The vehicle is probably safe and sound, but you might want to go over this with a bankruptcy attorney to be sure.
Answer Applies to: California
Replied: 2/20/2012
J.M. Cook, P.A. | J.M. Cook
You are allowed to exempt $3500 in motor vehicle under NC law. So if you claim it as exempt and there is no more than $3500 worth of equity, then you are fine. If however, you have more than $3500 in equity in the vehicle, the trustee will take the car, sell it and give you $3500.
Answer Applies to: North Carolina
Replied: 2/20/2012
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
If the trustee wants the car, the trustee will let you know. It is best to make sure the exemptions you picked are correct before you file bankruptcy.
Answer Applies to: California
Replied: 2/20/2012
Carballo Law Offices | Tony E. Carballo
You need to talk to your bankruptcy attorney. Otherwise, the trustee might object to the exemption and if the trustee is right you might lose your car.
Answer Applies to: California
Replied: 2/20/2012
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
When you file a bankruptcy property is claimed exempt in Schedule C. Consult with an attorney if you do not know how to file a bankruptcy by yourself.
Answer Applies to: California
Replied: 2/17/2012
Bodow Law Firm PLLC | Ted Araujo
There is no approval. You have to assert the exemption and it is up to the Trustee or a creditor to object to the assertion.
Answer Applies to: New York
Replied: 2/17/2012
Diefer Law Group, P.C. | Abel Fernandez
Your exemptions are automatic by law. You just need to list the car and then exempt it. Of course, it has to fall within your exemption amount.
Answer Applies to: California
Replied: 2/17/2012
Law Office of Michael Johnson | Michael Johnson
You should consult with an attorney. Your car is limited on it value for a bankruptcy
Answer Applies to: Florida
Replied: 2/17/2012
