car issue

[nature]

I have a 2001 pontiac firebird.. payments are current.. problem is i am separted ..but still married...I have been to court and the court papers state.. i am to pay payments on the car and he is to pay payments on the 2 trucks he has..and nothing can not be sold,secreted ect ect.. question is will i b able to keep my car ..the x to b has just disappeared he is no where to b found...

[StaciMM]

If you keep the payments up, it shouldn't be an issue to keep it unless you have more equity in it than your state allows. Regarding the 2 trucks, if your name is on them you can include them... That way if your X ever defaults, they can't come after you.

[nature]

I only owe like 3000.00 on it .. i am alittle ahead on payments..i think because he had to make some .. I live in Arkansas

[StaciMM]

Have you looked up what it is worth? From what I could find on AR's exemptions, you're allowed $1200 value in a vehicle. There is also a wild card exemption of $200, unlessy you're head of household then the wild card is $500.

I also looked up 2001 Firebirds at Kelley Blue Book. I have no idea which model or features you have, but from what I could tell, a vehicle w/ high miles and in fair to average condition will be worth at least $5-6,000. If your vehicle is in the $5k range, you're probably ok. ($5k value, less $3k owed, less $1200 exemption, less $200-500 wild card leaves only a few hundred remaining. Not worthwhile for the trustee to force selling it. If it has low miles & is in good condition, on the other hand it might be worth a lot more and become an issue.)

[StaciMM]

Just wanted to add-Arkansas, I think, gives you the option of using federal exemptions. If this is acurate-you're ok as motor vehicles are exempt to $2775 & if you don't own your home, you can use a wild card for up to $8725.