It looks like some courts allow you to claim the Car Ownership expense on the Means Test even if you own the car free and clear, while others do not.
What if I own my car free and clear but am planning to secure a loan against it and therefore will have a secured creditor? Would I then be able to claim the Ownership Expense?
An attorney has advised me that I would be fine taking a loan against the car (non-exempt equity) and putting the funds into home improvements since my home is in the middle of renovation and basically uninhabitable (negative equity in my house).
What if I own my car free and clear but am planning to secure a loan against it and therefore will have a secured creditor? Would I then be able to claim the Ownership Expense?
An attorney has advised me that I would be fine taking a loan against the car (non-exempt equity) and putting the funds into home improvements since my home is in the middle of renovation and basically uninhabitable (negative equity in my house).