What to do abot a car if I’m in the middle of a bankruptcy?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What to do abot a car if I’m in the middle of a bankruptcy?
We have 2 automobiles with a combined worth of $2800. The car I use for work was recently totaled. I need a new car. My job overpaid me 2K on my last check and said they will take it out of future checks. So now I have money to get another car. Will this cause a problem with my bankruptcy? I need a car for work because I work out of town at least a week every month. My spouse needs his car to get our 3 kids to school and in case of emergencies.
Asked on March 25, 2013 under Bankruptcy Law, Arizona
Answers:
eric redman / Redman Ludwig, P.C.
Answered 11 years ago | Contributor
an auto of that value should be exempt(proteected) in your state. if you have already filed a chapter 7 no thing is needed. if have not yet filed the BK, just put the new car on the schedules as an asset.
if you are in a chapter 13, get consent of the chapter 13 trustee
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.