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Can We exempt my brother-in laws truck?

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    Can We exempt my brother-in laws truck?

    I just filed BK chapter 13 a month ago and have a question about exemptions allowed on vehicles. I filed an exemption on mine and my wifes vehicles. But am concerned about my brother-laws truck. The truck is in my wifes name but he pays us the payment by check every month. Our lawyer said that we can exempt his truck if need be. But this week we recieved a letter from our attorney to provide an address to give to the trustee for him to surrender the vehicle. We have little to no equity in all three vehicles. Also my mother-in-laws 94 caravan is in oour name (value $550) 184,000 miles. Will the trustee ask for this as well?
    Chapter 13: filed 4-21-08, Discharged 11-5-13

    #2
    You filed 13? Are you not paying back enough to cover your assets? If you have no equity in the truck what are you exempting? Did you not make the payments on the truck after you filed your 13? I am confused?
    Filed!!04/23/2008[X] 341 5/27/2008[X]Converted to asset case 5/26/2008 [X]
    DISCHARGE 08/12/2008[X]
    Converted to NO Asset case 12/15/2008[X]
    Closed 12/16/2008 [X]:yahoo::yahoo::yahoo:

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      #3
      Originally posted by madms1 View Post
      But this week we recieved a letter from our attorney to provide an address to give to the trustee for him to surrender the vehicle. We have little to no equity in all three vehicles.
      It's the custom of many bankruptcy courts in both 7 and 13 cases to allow one car for each driver in your immediate family. Sounds like your trustee sees the extra truck as an available asset despite the auto exemption because you and your wife are not driving the truck (you have your own cars) and your BIL is not a member of your immediate family.

      Also my mother-in-laws 94 caravan is in oour name (value $550) 184,000 miles. Will the trustee ask for this as well?
      It's possible, again for the same reason - your MIL is not a member of your family and you and your wife are not driving this car. However given its very low resale value, your trustee is not likely to be interested in taking this one. It will cost more to auction than the car is worth.

      What reason did your lawyer give you for why you have to surrender BIL's truck in your name if your auto exemptions cover the four cars you "own"?
      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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