Hello,
I hope this is the proper forum to ask this question.
I may have to file ch 7 BK; my income is quite low and I don't have any real assets except my car.
The car is about 6 years old, a Toyota, and when I check NADA I get about $10,000 in value. By the time I file BK, it will have no more than $3,000 owing as far as I can tell, and I think I can pay for that.
Will they take the car to pay my other creditors? And does it matter that most of the creditors are because of marriage accounts, and I don't have any of the assets that were purchased with the money owed to the creditors? It is all in the possession of my soon-to-be-ex husband (who makes about 6x as much as I do, but is pretty much garnish-proof).
Thanks for any info!
Serendipity
I hope this is the proper forum to ask this question.
I may have to file ch 7 BK; my income is quite low and I don't have any real assets except my car.
The car is about 6 years old, a Toyota, and when I check NADA I get about $10,000 in value. By the time I file BK, it will have no more than $3,000 owing as far as I can tell, and I think I can pay for that.
Will they take the car to pay my other creditors? And does it matter that most of the creditors are because of marriage accounts, and I don't have any of the assets that were purchased with the money owed to the creditors? It is all in the possession of my soon-to-be-ex husband (who makes about 6x as much as I do, but is pretty much garnish-proof).
Thanks for any info!
Serendipity
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