top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Car sale too close to filing?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Car sale too close to filing?

    Hello,

    In one of my previous posts, I mentioned that I had sold my car a couple of months ago and was wondering what effects this would have upon my case. I just wanted to clarify a few points about the transfer and I apologize for posting about this twice, but I could really use some assistance with this.

    The car I had was a 98' Oldsmobile that was blue-booked for 1300-1500 dollars. Given that there was some more cosmetic damage, I felt that the price could be dropped down to 1200; I settled with a buyer for 1000 dollars.

    My question is since I'm planning on submitting my paperwork probably in about two weeks, does anyone think the trustee could frown upon a vehicle sale so close to filing? Like I said, it was on craiglist, so the person I sold it to wasn't someone I knew and I felt the selling price was a fair value given the condition.

    Oh, and the money I got from the sale was used for everyday expenses and food.

    Thanks for the help!!
    Filed Chapter 7, Pro Se: 12/23/2010
    341 Meeting: 01/26/2011
    Discharged: 03/29/2011

    #2
    You'll be fine. When we first looked at filing, we had just sold a vehicle for $1000. The attorney didn't bat an eye -- didn't even ask what we had spent the money on.

    It's been a few months now, but we actually will be (hopefully) selling another vehicle, and we're filing in a few months. The price on this one will be about $5000. She did ask us to keep good records of where THAT money went -- but the $1000 we had just made when we talked to her months ago, she didn't care about. I think you'll be fine.
    04/01/10 - Hit rock bottom and knew we were going to have to file for bankruptcy and surrender our home. 12/14/10 - Filed Chapter 7, 02/09/11 - 341 Hearing, 04/14/11 -

    Comment


      #3
      I agree with ssmdem; you will be fine. If you are using an attorney, go ahead and let him/her know about this. But most likely you'll be told not to worry about it.
      "To go bravely forward is to invite a miracle."

      "Worry is the darkroom where negatives are formed."

      Comment


        #4
        Thank you both for your responses. Initially, I didn't think it would be a problem, but I just wanted to be sure.
        Filed Chapter 7, Pro Se: 12/23/2010
        341 Meeting: 01/26/2011
        Discharged: 03/29/2011

        Comment

        bottom Ad Widget

        Collapse
        Working...
        X