FL car question

[AMISLANDER]

I'm filing either end of Sept. or beginning of October and I have the 2000 4Runner that's entirely paid off.

The KBB value is $6,700 keeping in mind that the SUV needs 2 catalytic converters & has damage in the rear from when I bumped the bumper...Toyota gave me an estimate back in Feb. of $2,500 for the converters plus $400 for some minor hose work...

I understand the exemption for a vehicle in FL is $1,000. If I wanted to trade my SUV in for something else, how do I do that to have no equity so they can't take my ride? This is my whole point of filing a CH. 7 'cause I'm in debt, but how can I afford a car payment and then give up a paid for vehicle. Am I getting more dense by reading or what?

Also, should my next car, if I can figure out how to get one, be in my name or jointly titled?

I just really need some help about how to do this properly so I don't screw myself up more than I already am... HELP!

[AMISLANDER]

FL car issue

I think I can answer this question now, myself...my mother spoke to my attorney. This is how it works...

Before filing, I have to go to a place like CARMAX and have them give me a document stating what they would give me for my car if I traded it in with it's present mileage. My attorney puts that in his file for my bankruptcy...then the trustee will make some deductions in regards to repairs that are needed and will give me figure, minus the $1,000.00 allowance for cars (FL) and I can buy the car back at that price...so I'm figuring mine would be like $3,000.00 considering my repairs...that's better than finding something that's 20 years old for $1,000.00...better the beast you know theory, at least in cars...

Hopefully, maybe this will help someone else out who may have this worry.

[Confusdnfl]

I am in FL and just went through this with my car. I went to CarMax and got an appraisal but the trustee said he wouldn't use that. He had his own book(can't remember what it's called but it's not Kelly or NADA) and he figured up what it was worth. He said the appraisal would be what he could sell it for to a private individual, not a trade-in. Of course, it was higher than what CarMax said. Anyway, he figured up the equity in my car was $3400. In FL we are allowed $1000 for a vehicle so I have $2400 equity in my car that I have to "buy back" if I want to keep it. The trustees give you a year or less to pay that back to them and they will disburse that amount out to your creditors. My trustee gave me 10 months to pay it back. I will pay the trustee $240 a month for 10 months plus I still have to pay my regular car payment to my finance company. My lawyer said some trustees only give you 3 or 4 months to "buy back" your car. My car is only a year old and I really want to keep it so I will buy back my car from the trustee. It's going to tough for the 10 months but I'll have to cut back on other things to do it. Hope this helps with any questions you had.