When will we find out if we have to surrender car?

[Footprints1973]

First off, I want to say I'm sorry I've haven't been around much. Our computer at home broke, so I can only go on once in a blue moon at work (have the sneak) and if my Dh has his home from work.

Anyway, we filed for Chapter 7 last Wednesday. We had to do the means test due to being over the income a bit, but we passed...our lawyer played with the numbers a bit on our expenses, but we were able to do chapter 7.

We have 2 cars. One is with a car loan. We listed it in our BK BUT we are going to keep making the payments. The lawyer says then we should be able to keep it.

My question is about the other car, which we own outright. When do we find out if the trustee's are going to make us surrender it? At the 341 meeting? I know in our state (FL), you are allowed to keep a certain amount in assets but I really don't know if they are going to let us keep the car. It is worth maybe $9K (2004 Toyota Matrix).

Does anyone know when they let you know if you have to surrender your vehicle?

[magyar123]

I suppose you'll be able to keep the car that you already own free and clear - especially if you and your husband work in different parts of a city and would make "taking each other to work" a hassle.

[PoorGrammyinBK7]

Do you own a house or are you renting? In Florida, from what I have read (I am not a lawyer) if you are not a homeowner - or do not claim homestead exemption and plan to surrender your home, you have an extra wild card exemption for "personal property" of $4,000 (each of you). You also get $1,000 each for "personal property". The exemption for cars is only $1,000.

As I understand it the $4k is in addition to the $1K. So, if you are a renter, or surrendering your home, you get an extra $4k each for a total of $5K - $10 K for a couple for "personal property". I would THINK this could be applied to a car exemption also, but don't know for sure. You know who you have to ask ..... lawyer.