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Title in my name but never made payments - transferred title

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    Title in my name but never made payments - transferred title

    I just transferred over a title to my ex that about 5-7 years ago I co-signed on a vehicle with(Genius move #1) . The title was in my name AND hers obviously because .. at that time .. my credit was fine. Due to some medical issues and stupidity I have gotten worse since then. I am currently thinking of filing bankruptcy but I'm worried about how a trustee may look at this? I never made a single payment on the car and we actually parted ways probably a couple months afterwards just because we weren't really compatible... longtime friends tried it didnt work out but we are still good friends. So like I said we transferred the title because she paid the car off and got it in the mail and I figured that was the best thing to do. I didn't really THINK about the bankruptcy part of it at that time.

    I guess I'm just worried because I don't want anything to come back on her simply because of my debt. Obviously thats the risk she took but I feel like since she made every single payment and now the car is paid off that would be proof enough it was never really mine.

    Is this something that will be an issue? I live in Alabama. I'm about to see a lawyer but havent had the chance yet.

    Thanks!!
    Last edited by Graphic; 04-04-2011, 06:32 PM. Reason: I'm dumb

    #2
    Take a look at your states exemption laws & try to find the current market value of the vehicle. For example: If the car is worth $5000 and you have $5000 worth of exemptions then it will be ok. If not, the trustee could very well be interested in the car. Good luck to you.
    Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
    I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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