Trustee wants our only car

[olly7011]

Need some help. Our 341 is scheduled for this Thursday and we just received a notice that the trustee objects to $2000 worth of exemptions on our only car. My wife and I own the car out right. Along with the objection the trustee sent out a notice that a court date has been scheduled to relive us of the car. Can they actually take my family's only mode of transportation? I thought that they usually give a option to buy back an asset. In this case $2000 / 12 = $166 monthly payments.

Thanks for any insight.

[AngelinaCatHub]

They still put out that motion to liquidate. Your lawyer can draw up an agreement to buy back. We did this for 5400.00 at 450 a month. I have eight more months and the stuff I own I shall own again. 'Hub

[banca rotta]

Need some help. Our 341 is scheduled for this Thursday and we just received a notice that the trustee objects to $2000 worth of exemptions on our only car. My wife and I own the car out right. Along with the objection the trustee sent out a notice that a court date has been scheduled to relive us of the car. Can they actually take my family's only mode of transportation? I thought that they usually give a option to buy back an asset. In this case $2000 / 12 = $166 monthly payments.

Thanks for any insight.

They can take whatever they want with no regard for the debtor as long as it's non exempt property.

What's FMV for the card and what's your states exemption? The trustee can take only the non exempt portion and you keep the exemption amount. He would basically sell it and give your what your state allows. Did you happen to get an accurate appraisal before filing?

[JRScott]

I think you should get with your lawyer and seek to redeem the vehicle. You'll have to pay the trustee payments for a set amount of time but it might be worth it for you.

[olly7011]

Thanks guys, I called my atty and found out that the trustee thinks our car is titled in only my name and objected to me wife's portion of the exemption. Tomorrow is my 341 meeting and if I provide a copy of my car title it should clear this issue up.

[olly7011]

just looke d at my title for my car and the trustee is right, my name is the only one on it. I just left a mesege w/ my atty to see if I could add my wife to it before our 341 and still get the exemption. ill let yall know how it goes.

[JRScott]

Sorry olly , I hope it all works out.

[olly7011]

Update...

I cannot add my wife on my cat title to get her exemptions. A single name on a peace of paper is costing me $2,000 which brings my total buy back to $3,300. Its my wife's car and more importantly its our only family car. Seems like filing bankruptcy is going to put me in an additional bankruptcy. Looks like I'm going to have to find a parttime night job.

[AngelinaCat]

I'm sorry to hear that olly. What state are you in? When you go to the 341 tomorrow, and the subject of the car comes up, explain all this; that being without the car will be a hardship. It might not help, but if you don't try, you won't know. The Trustee might be willing to work with you.......

Is the attorrney going to be there?

[jessegirl]

Can they someones only family car? When my attorney asked about my Dh's car, we told him its paid off and he fgiured out how much its worth probably 2500.00 and said, Ok. I asked if they would take that and he said no its not worth anything. So now do i have to be worried, my husband uses the car to get to work and I have a leased vechile that is due to expire in Oct 2009.

[Yankeegirl]

Jessegirl:

It all depends upon if your state or Federal (if applicable) exemptions cover the vehicle.

If the car is worth more than our exemptions allow for then the trustee will want payment for the difference or will want to sell it.

Check with your attorney.

[olly7011]

I'm sorry to hear that olly. What state are you in? When you go to the 341 tomorrow, and the subject of the car comes up, explain all this; that being without the car will be a hardship. It might not help, but if you don't try, you won't know. The Trustee might be willing to work with you.......

Is the attorrney going to be there?

I'm in Jacksonville florida.

Ill let my wife give the trustee the puppy dog eyes. I figuer if it works on me it may work on him

[jessegirl]

My take on it, is if they take your only car how does the trutee expect you to get to work??

[Footprints1973]

I'm in Jacksonville florida.

Ill let my wife give the trustee the puppy dog eyes. I figuer if it works on me it may work on him

I am sorry you are going through this. I am in FL also. The trustee wants to take one of our 2 cars, and I thought that was bad. It was for the same issue--my name is not on the title, just my husband.

I can't imagine the trustee taking your sole vehicle. That's awful. How does he/she expect you to get to work?

I agree with the previous poster, there has to be some way you could explain that this would be a hardship. Do you have an attorney? If so, I hope he/she will fight for you.

Let us know how it goes. You'll be in my prayers.

[olly7011]

I am sorry you are going through this. I am in FL also. The trustee wants to take one of our 2 cars, and I thought that was bad. It was for the same issue--my name is not on the title, just my husband.

I can't imagine the trustee taking your sole vehicle. That's awful. How does he/she expect you to get to work?

I agree with the previous poster, there has to be some way you could explain that this would be a hardship. Do you have an attorney? If so, I hope he/she will fight for you.

Let us know how it goes. You'll be in my prayers.

Laura

Just to clarify; I also have a piece of crap motorcycle that I use to get back and forth to work. But our car is the only way for my wife, 3 year old child and myself to get around in together.