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using repairs towards car value

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    using repairs towards car value

    I think I read somewhere on here that when claiming exemptions on a car, your allowed to claim repairs if they are needing done. We are in Indiana, and have $16,000 in exemptions. We currently own 3 older cars, and when going to Kelly Blue Book all are under $10,000 total. We do hold the title to all 3, we don't owe money to anyone. These are our only major asset, otherwise all we have it our household items. The 99 Kia needs work, go figure, buying a foreign car everything costs a fortune. We have a broken windshield, and the muffler needs replaced, one of the back doors won't open, and the heat shield under the gas tank is falling off, all this together will most likely run us about $900-$1000 to fix. Where that money will come from, who knows, maybe our Tax Rebate???? Am I correct that this can be taken off the value?

    Our attorney doesn't see a problem with our assets, they aren't much, but I just wondered since we have 3 cars, the Kia being the newest, if we should be prepared to show the work that needs done. Our other cars are a 92 chevy truck, almost 300000 miles and a 95 Jeep Wrangler, 156000 miles. The Kia is right at 100000 miles. I know that probably sounds like we need to buy something better, but for now we will find a way to make it with these cars. With 3 cars with that kind of mileage, my feeling are, with 3 cars atleast we both can drive one to work, even if one is broken down. Matter of fact, this week, the Jeep wouldn't start, but fortunately I can drive the Kia for now. When it rains it pours!!! LOL Still aren't sure what's wrong with the Jeep, but DH has a friend who might be able to get it going!! Crossing my fingers anyway.

    Any advice would be greatly appreciated.
    Last edited by justplaintired; 03-21-2008, 06:29 AM. Reason: spelling
    Filed Chapter 7 June 4 ~ 341 July 20 ~Last day of objections Sept 18~Discharged/Closed Sept 21

    #2
    JPT, the question you're asking about adding on car repairs is variable in different court locations across the country. If your lawyer thinks you don't have anything to worry about, then I would take that to heart since he/she knows what will pass muster in your local court.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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      #3
      Thanks!
      Filed Chapter 7 June 4 ~ 341 July 20 ~Last day of objections Sept 18~Discharged/Closed Sept 21

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