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Would my car be exempt in Ch. 7?

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    Would my car be exempt in Ch. 7?

    I recently started working as a pizza delivery driver. My car is worth more than the vehicle exemption amount in my state. However would I still be able to keep my car and have it be exempt since I need it for work? Any help would be much appreciated.

    #2
    Hi and welcome SFJ!

    Do you owe money on it?
    Filed C7 Aug 31 2008
    341 Oct 8 2008
    Discharged Dec 9 2008

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      #3
      What did you use to determine its value?
      Filed Ch 7 -- July 9, 2008
      341 mtg ---- August 14, 2008
      Discharged ---- October 17, 2008
      Closed --------- December 11, 2009!

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        #4
        I do not owe any money on it. I was using kelley blue book but in any event it is definately over the 2500 exemption.

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          #5
          You will probably need to pay the trustee the amount of value over the exempted amount to keep it. You need a car for your job, you don't need that particular car for your job, if you know what I mean. Say the car is worth $7000 and your exemption is $2500, the trustee would take the car, give you $2500 with it, and tell you to buy a $2500 car to do your job. Sorry!
          Filed CH 13 September 17, 2007
          Plan Modified July 8, 2009 from $1100/month to $400/month due to change in income, finally discharged in July of 2013!

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            #6
            what state are you in. In ca. you can use the wildcard and/or part of your homestead for anything you want. If you dont have many exemptions then your golden

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              #7
              If the vehicle is necessary for your job (delivery driver definitely needs a vehicle) then you can use the tools of trade exemption as well. In most states, that exemption is from $5k to $25k. I exempted a 2006 Cadillac Escalade for a client who had to use his vehicle to deliver product to his clients after hours and couldn't use the company truck.

              Good Luck
              Disclaimer: I am not an actor on TV, but I play a BK Paralegal in real life. Nothing I say should be construed as legal advice, or really anything but entertainment. Please seek out professional help.

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