Anyone include payments to family in there BK13

[253BK]

I have a truck that was bought with cash from my in laws and it is worth at least 40K and I have the title with no liens

If I was to include this if possible would that work??? I cant lose this truck it is how I make a living

I have meeting set with attorneys around town but they are 2 weeks out! Need so help here so I can sleep at night

THanks for any input

[car67]

If the vehicle is your name I think you will lose it?

If the vehicle is in a business name with payments due it can be part of
of business expenses.....

[253BK]

it is in my business name so I hope that helps if not I will put off filing and sell it I cant lose it to the trustee

[rrockinggramma]

in a chapter 13 you can keep the truck. Take canceled checks or proof of the payment you make to the parents (in laws?) when you go to the lawyers so it will be included in the "expense" section. And you should be able to include the truck in your plan if you wish. But the trustee will only pay off principal and reduce the interest. In addition, as you are making payments on it, even though you own it, it will figure into your payback to creditors test (must pay back what they would have received in a chapter 7 etc test) after the vehicle exemption is taken. And you can include the parents payback in the plan as well (if you are paying them back)

[aa06a47]

I think it depends on how hard your trustee looks at your case. Legally, if your parents have a lien on the truck, then the debt will be "secured" debt (which according to your post, it does not have a lien on it). Since they don't have a lien on the truck then the payment to them will be treated as unsecured debt and share in the pot with the rest of the unsecured.