i have a question

[oldman67]

hi im new here me and my wife filed chapter 7 have been to court and are in our 60 day waiting period,our son wants to sell his car,our lawyer said he could sell it after the 60 days but the papers say he cant until 181 days after discharge its in mine and my wifes name,but wanted to know how long we have to wait before selling it thx

[lrprn]

Oldman, did you reaffirm the car loan for the car in question when you filed? And what "papers" tell you the car can't be sold for 181 days after discharge?

[oldman67]

there is no loan on the car its payed for,it said on the paper sent to our house after we went to our court date that no property could be sold until 181 days after discharge,but our lawyer told us we could sell the car after the 60 day period,so we dont know which to believe thx for the reply.

[Boscoe]

Are you a 'no asset' case? Meaning did you have any assets leftover after applying your exemptions? If you are a no asset case, your case should close right at the 60 day mark so there would be no reason to wait if you wanted to sell the car.

[oldman67]

yes it is a no assets case,it just throws me why the one paper said we couldnt until after 180 days after discharge

[JRScott]

The property line in the papers you got could it be referring to real estate?

I've not heard of a 181 day rule myself, I didn't get anything like that from the courts here. I don't own any real estate though which is why I asked the question above. I do own a car that is paid for though.

[oldman67]

well we still owe money on the house nothing else,so could it mean that we just cant sell the house but everything else is fine,also i forgot to mention that they would get any money we recieved within 180 days after discharge,so does that mean we lose all of our taxes and anything we sell such as the car goes to them for the next 6 months?

[BKTango]

Generally speaking, depending on what time of the year you filed, and how lovely your trustee/district is, you may lose a potion of your income tax return. That being said, your lawyer or the trustee would have already mentioned this to you if they planned on receiving part or all of it. Look through you bankruptcy papers on the page that list all of your exempt property (bank acocunts, cash, home...etc.) it should list your income tax return there. Or at least mine was. You could put in a call to your attorney and question whether or not your tax return was exempted.

Nevermind all of that...I just seen that you are a no asset case. Your tax return was more than likely exempted then.

The money that you cannot receive is 180 days following the filing date, not discharge date. This is the normal time frame for everyone. So this might be a question for your attorney to make sure it's the filing and not discharge date. Generally it just refers to any inheritance or insurance benefit you may get within that 180 days from the filing date because they could use that money to pay some or all of your creditors.

[oldman67]

ok i understand now ty all for your answers,they have been very helpful.