BK Question in LA

[Struggling in L]

I am thinking about filing BK. I have 2 credit cards with about $36,000 owed. I have a mortgage and a car note but I do have a vehicle that I own. If I file BK is there any chance I can lose this vehicle? I am a father of 4 and sole bread winner for my family. We plan on reaffirming the house and the other car. Is there anything we can lose if we file BK? Thanks to anyone who can provide some light on these questions.

[Butterfly]

How much is the car worth? Where I am the exemption for a vehicle is $1500. If it is worth more I would say you have a chance of losing your car, but it really depends on how much it is worth. I have a car my Lawyer put $1200. Because it has tons of miles on it. Then I just have the basic stuff like furniture and a couple rings and 4 kids. The house is mine but not in my name Thankfully. It all depends on how much its worth and I don't know anything about your house, but Im sure someone will come a long and answer that for you. Good Luck

[BrokeCh7]

Get good legal advice first

I filed in jan this year and am finding that there are problems it is not as simple as the laywer said. I also have no assets but a small business and a few personal things. All of this should be under the exceptions but for some reason the trustie is wanting more information. Tax returns, bank statements copies of canceled checks, explaine where some monny went in the last few months before i filed. Then i find out he is paid by getting 5% of what he collects for the debit. This and my ex called and told him i am hidding assets. So i suggest you start writing down a complete list of questions and see a few attoneys before you jump. There is also some preplaning that you should do and be aware you may need to drop your paints and let the trustie look at everything in detail.
Oh i can keep my car but it is upside-down and something i don't plan on doing and your house should be worthless or it may be an asset of your BK agian get good legal advice first.

[robivi3]

Broke7,
The Trustee gets about 20% of the first $10,000.00 PLUS HEAFTY FEES. The Trustee has a firm, look his name up on the Internet, you will likely find alovely office building and a list of large acreage assets for sale. the 5% is at the higher end of the sliding scale, once it hits millions it goes down to about 2%.

The business is what complicates your BK. I've been there. He will probably try to force a cash settlement payable by the month out of you. Offer him your used clothing instead.

In Florida your home is untouchable. I am fortunate in that I have beucout equity thanks to the Ft. Lauderdale housing market. The townhome i bought in 2001 is now selling for a little over $200,000.00.