share the car......

[eastorangefeet]

here I go with another question on what to do directed to the all mighty forum.....I am married and have a car paid off in both mine and my wifes names I live in florida so I think I get 1000 or is it 4000 I dont know???? Im so you know all over the place.... but back to it its worth about 6500 and only I am filling so will they only say the car is worth 3250 sence i only own half or are they going to be I dont think so and repo...

[JRScott]

Is FL a community property state?

[cleo1357]

If you are keeping your home, the personal exemption is $1000 per filer (so $2000 for joint filers), and one motor vehicle up to $1000. The trustee may want you to "buy back" your equity in the vehicle- not sure. Anyone else run into this? I know we have a lot of Florida filers out there

[eastorangefeet]

its only me filing Im just not wanting them to drag my wife in to this any more than she has to be. Will she have any say in what happens to it sence it is half hers and she did not trash her credit? And I really dont want to lose the car(its half way nice and need it for the kids) the other car we have still making payments on and owe about what its worth so will most likely let it go with out a fight.

[chazspaz]

same car problem

We had our 341 on 5/2/08 and the Trustee made us buy bcak both our cars.One is paid for and the other we owe about 8500.00.She told us in order to keep these cars we had to pay 450.00 per month for ten months!!! We never thought she would go after the car with a lein on it. Now I guess it is a small price to pay to get all our other debt discharged but the 450.00 per month will hurt. If you have equity in your vehiciles watch out because most trustee's will try to get some back here in Florida.Good luck to all.

[momof5]

We had our 341 on 5/2/08 and the Trustee made us buy bcak both our cars.One is paid for and the other we owe about 8500.00.She told us in order to keep these cars we had to pay 450.00 per month for ten months!!! We never thought she would go after the car with a lein on it. Now I guess it is a small price to pay to get all our other debt discharged but the 450.00 per month will hurt. If you have equity in your vehiciles watch out because most trustee's will try to get some back here in Florida.Good luck to all.

Do you know how much of that 450 a month goes to the trustee and how much goes to creditors? Thats quite a bit of money a month especially for a car that I assume you already paid out what is now called equity.

[justplaintired]

If you are keeping your home, the personal exemption is $1000 per filer (so $2000 for joint filers), and one motor vehicle up to $1000. The trustee may want you to "buy back" your equity in the vehicle- not sure. Anyone else run into this? I know we have a lot of Florida filers out there

Wow that's not much in the way of exemptions. Kinda glad I'm in Indiana. We have much better exemptions. That hardly seems fair to have such a low motor vehicle exemptions.