Reposessed Auto

[heorn]

My wife and I are scrambling to fill out all the schedules and paperwork to file tomorrow. Like many people, we have put it off for awhile.

She lost her job in 2003 and has been doing telemarketing to supplement our income. The reduction in income severly put us into a spiral of debt.

On to my question, if my wife just had her auto reposessed do I file that under Schedule D secured claims? The car has already been sold last month. How do we file this debt?

Thanks

[StaciMM]

If they've taken the car back, its no longer a secured debt. (Since you no longer have the car.) List it as unsecured-you can estimate the deficiency balance if you haven't got the specifics.

[heorn]

Thanks!

Thank you Staci !