vehicle selling question.

[budman66]

I did some searches on this and i apologize for the multiple posts about different questions...

I couldnt quite find the answer.
From what ive seen generally its mentioned not to sell anything...well i am going to need to sell a vehicle in order to make rent, eat, and pay my utilities and phone....and the sticky part is that a family member wants to buy a vehicle that is only worth about 1500 an old truck, and a neighbor wants to buy another old car for 1200 , and both would be cash deals......i need to sell these vehicles since they are in nonexempt.....but dont want problems since transfer of title would be to a family member and my immediate neighbor you would give me the fair cash value of these cars....yet....i dont want any issues with having these reversed or problems...

i need the money to pay for an attorney, and have food on the table....yet everyone keeps saying dont sell anything....if i dont sell them i wont be able to pay my necessities and also if i dont do anything they will get seized anyway...so which is the right way to go about this.....

[budman66]

i would not be doing this to hide assets since i would be getting the cash and losing these cars....but id rather sell them than lose them......and the sales would be a fair value...right at about the kbb trade in value amt.

[SinkingFast]

Sell right at a fair price according to KBB, or Edmunds, or NADA.

CYA yourself with a paper trail.

Keep a sales receipt of the transactions.

Make sure to deposit the funds into your bank acct the same day you complete the sales. That way, the Trustee can see the flow of money from the sales to pay routine living expenses bills.

The more time you put between the sales and filing BK, the better. If you sell one day and turn around and file the next week, that will raise red flags with the Trustee. But if several months pass between the car sales and filing, that's less likely to be a point of contention with the Trustee.

If you can sell to anyone other than your neighbor and your relative, that would be even better. Both your neighbor and your relative could be considered Insiders by the Court.