Since I have much unsecure credit card cash advances debt, my parents bought me a new car in THEIR name. I make the payments every month on the car. I pay a little extra over the required amount in hopes of knocking off some of the interest. My question is, when I go to file C7, will I be able to present this payment I make every month even though the car is not in my name? Will I have to give up my tv, laptop computer, bed, and stereo as well?
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A good BK attorney in your area could answer your questions best. Many give free consults on the initial visit. Every state has allowable exemptions. I do not know the exemptions for Texas but if your stuff is within the exemptions allowed, then you won't lose it. But a good BK attorney will tell you for sure. -
If you want to keep the car without issue, just don't list the vehicle on your petition. Chances are slim that you'll have to "give up" your tv, laptop, bed et cetera. Unless you purchased them via credit and the creditor wants it back. Even if this were the case, a large percentage of the time, they will not reposess the items. Unless they were purchased weeks prior to filing for BK7.Originally posted by ksmd
Good Luck!
The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.Comment
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