My husband and I have two cars. A 2002 Acura MDX with 90k miles on it and a 2009 Toyota Corolla with very few miles. Both cars are paid off and we have the titles. We did so many months ago before the thought of filing Chap. 7 and we used money from a personal loan to do so in order to try and consolidate debt. We are meeting with a lawyer today who I am sure will be able to answer this, but thought I would ask anyway. Will these cars be taken and considered assets in a Chapter 7?
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Filed Chp. 7 (asset) bankruptcy w/attorney 9/30/08
341 meeting scheduled 11/03/08
Last day for objections 1/02/09 -
Yes, these are. You get a car exemption and then more if a wildcard.
Your atty will know by looking at your whole scene what your options are!Filed C7 Aug 31 2008
341 Oct 8 2008
Discharged Dec 9 2008
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