Has anyone been able to keep 2 cars?

[hopingforsanity]

In a chapter 7 case? One is worth 2,800(this is the exempt one), and a 1994 with high mileage car worth $800 appraised at? I do not own any other property. My state exemption is only $2400 for vehicles. And also if the trustee wants to take and sell my $800 car can I change the exempt car? The car worth 2,800 has also a repair estimate of around 2,200.
There is no liens on these 2 cars. My lawyer has told me that I shouldn't worry about the other car as it isn't of much value. But I can not shake the feeling that the trustee will take it away. Any one been able to keep 2 cars?

[AngelinaCat]

Hi Hoping... Welcome to the forum. It will help a great deal to know what state you are in.

I see you are on the board. Chew on that question as I attempt to tell how our situation went. We are in Florida.

[AngelinaCat]

In a chapter 7 case? One is worth 2,800(this is the exempt one), and a 1994 with high mileage car worth $800 appraised at? I do not own any other property. My state exemption is only $2400 for vehicles. And also if the trustee wants to take and sell my $800 car can I change the exempt car? The car worth 2,800 has also a repair estimate of around 2,200.
There is no liens on these 2 cars. My lawyer has told me that I shouldn't worry about the other car as it isn't of much value. But I can not shake the feeling that the trustee will take it away. Any one been able to keep 2 cars?

We actually own three vehicles. The first is a 2004 VW Jetta with @ 100K miles on it. Great engine--extremely poor interior; reasonable condition body. However, that car has a 20K loan attached to it. It had been fully paid for when we bought it, but due to our circumstances, we had to take a loan from our Credit Union against it. That, we are paying on now. This is my husband's (AngelinaCatHub--better known as 'Hub) primary vehicle. [BTW, anyone wanting this car can have it for the Roach colony that is living within it.]

Vehicle #2 is a 1993 Pontiac Grand AM SE that was bought at auction for $800.00, worth only about $300.00, and is fully paid for. It was a former police car, then Codes Enforcement car. So it has low mileage, but high idle time. That is my primary car.

Vehicle #3 is a 1968 Chevrolet Impala, 4 door that 'Hub bought for me for my 50th b'day. We only played with it a little while before he got sick with Prostate Cancer, had surgery, and all that. So the car has been sitting in the garage since 2004.

We told the trustee all of these facts at our 342. Our 341 was Feb 7, 2008. Eventually, around May or so, we got a notice that the trustee was abandoning all interest in our vehicles as being too old, or fully encumbered.

The Jetta is the one with the mortgage. The Chevy is the one that has been idle since 2004. The trustee wanted to know its condition, as in "on a scale of show-room quality to housing squirrels--which is it?" We answered truthfully that it was far from show-room quality, but was a fair fixer-upper, but had sat idle for years. And that the green tinge on it was NOT the color of the paint... He seemed satisfied with that.

I hope this helps.

[debtmonster]

How does one have a 2004 car with an extremely poor interior? Was the car ever on fire or something? 2004 is not very old. That car should still be like new.

[Over our heads]

How does one have a 2004 car with an extremely poor interior? Was the car ever on fire or something? 2004 is not very old. That car should still be like new.

Well, I have a 2006. Extremely poor doesn't even come close. It has been puked on, peed on, snotted on...and any other bodily function on you can think of. Even have a chocolate milk stain goin on in there. And about knee deep in coloring books, pencils, and happy meal toys.

While I don't think the Cat's have lil' childrens, I have 4 of them.

Mine may still look new on the outside, and run like a champ (less than 23k )it is like WW3 on the inside!

[Over our heads]

Then I went and forgot to answer the question.
We have 2 vehicles.
03 stratus, paid for, worth about 4k
06 uplander, not paid for, upside about 2k.

We are keeping both, we have a 3k auto exemption. We are looking to file after our 08 tax return, and hope that by then we can drive the worth of the stratus down to the 3k mark. If we can't, I think we will have to pay a bit to keep it. But with the man working so far away from home, and 4 kids, we HAVE to have 2 cars.

[AngelinaCat]

How does one have a 2004 car with an extremely poor interior? Was the car ever on fire or something? 2004 is not very old. That car should still be like new.

The interior has only had normal wear and tear, but has not held up at all. You can see where every hand-print has been. The center arm rest/console between the two seats is plastic and its hinges are broken. Again, normal wear and no children, but it looks like it went through a war zone. And now it has started leaking at the windshield and sunroof. And because it is a VW, add $200.00 to the cost of any part/repair.

[WharffRat]

I kept 7 vehicle thur my CH 7

2003 Nissan Xterra SE (71k miles) worth $12,000 still owed $13,000 it was a lease we bought at the end

2000 Chrysler Cirrus (105K miles) $3,000 value

1991 GMC Van (142K miles) $1,500 value

1986 BMW 325 (166K miles) $500 Value

1977 GMC Van (129K miles) $1,000 value

1992 Harley Davidson Sportster (18k miles) $2,250 value

1977 Yamaha 650SX (13K miles) $500 value

Since most were/are junk, it was not a problem. I did bring pictures and online quotes for the values of the vehicle. I was totally honest about their exact condition and value.

In the end after the BK, I couldn't even sell the BMW or 1977 VAN for the values given and ending up donating them to charity.

just my 2 cents..

[PoorGrammyinBK7]

well, i have a 2006. Extremely poor doesn't even come close. It has been puked on, peed on, snotted on...and any other bodily function on you can think of. Even have a chocolate milk stain goin on in there. And about knee deep in coloring books, pencils, and happy meal toys.

While i don't think the cat's have lil' childrens, i have 4 of them.

Mine may still look new on the outside, and run like a champ (less than 23k )it is like ww3 on the inside!

lol

[hopingforsanity]

Thanks for all your replies. I am just worried, I wanted the car worth $800 to be my exempt car, but my lawyer decided to put the exemption on the car worth more, but that car has major repair estimates and won't pass inspection unless I get done, luckily the inspection doesn't run out until march of 2009. If worst comes to worst can I still trade exempt car for nonexempt car? My lawyer has told me 3 times not to worry that the 2nd car isn't worth that much, but I worry b/c I am over on the $2400 state exemption for the auto's.

[ansky0007]

Thanks for all your replies. I am just worried, I wanted the car worth $800 to be my exempt car, but my lawyer decided to put the exemption on the car worth more, but that car has major repair estimates and won't pass inspection unless I get done, luckily the inspection doesn't run out until march of 2009. If worst comes to worst can I still trade exempt car for nonexempt car? My lawyer has told me 3 times not to worry that the 2nd car isn't worth that much, but I worry b/c I am over on the $2400 state exemption for the auto's.

I would not worry about it. There are also expenses involved with selling your car for the trustee and you do not have enough value in them to be concerned.

[Help!]

We were told by our attorney that we could partially exempt both of the vehicles we owned outright (each worth about $15K) and pay the trustee the difference. He told us a number of things that were completely incorrect, and as a result we ended up giving both of our cars to the trustee.

Shortly after discharge, we bought a car for $5K and functioned with one car. It was really tough, but we used bus passes to get by. We finally saved up $1500 and bought a second car last week. Some would say we really got screwed, but considering the amount of debt we discharged we feel fortunate.

I'm happier with that 23 year old car than the $48,000 ridiculously posh SUV we used to drive around in. I smile every time I look out the window knowing that we don't owe anyone a damn nickel and never will again! Sorry - I'm rambling. My second point is really not to the OP, but to others who read this thread that they should not fear the major lifestyle changes that are part of BK.

[TEW]

How about a 2003 Mercedes CLK 500 70 K on it stone leather interior. plan to surender but paid up to date. cheap oil change $276.00 tires $500 each. new plugs 16 $900.00
And a 2000 ranger 125K on it will keep for ever
I'm going cheap who needs.

I'm with you help

[hopingforsanity]

I would not worry about it. There are also expenses involved with selling your car for the trustee and you do not have enough value in them to be concerned.

That is true., or so I have been told. But who knows what will happen. All I can hope for is the chance to choose--if /when I have to give up one. I was even thinking of giving up my pension(that I have from another company I once worked for) which is only worth about 3 times the estimate on the nonexempt auto. We have no public transportation, I live in a small rural community, we have to travel to get even to a grocery store or a department store or a hospital.

The $800 car, reminds me of a time when life was different, when the world was cheaper, I bought the car back in 2004 for 1,500. was able to pay it off in less than 6 months. Gas was cheaper, food was cheaper, the world wasn't as insane as it is nowadays. Everytime I look at it, I smile remembering a time when I wasn't struggling as much as I am now, even without paying the cc's. I am sorry I had to ramble...I really have no one to vent to--that is going through this or has gone through it, or is thinking about it.

Thank you again for your replies, I appreciate them.

One more thing: that has been bugging me...what kind of car does NYS think a person can get for $2,400 in today's day and age. I spent around $3,300 on oil for furnace last year. I think the state exemption is not fair.

Sorry again for my ramble.

[Tbornetun]

If the $2800 car has a repair estimate of $2200, then the car is not worth $2800 unless if the book value of the car after the repair is around $5000. Is it? If it is, I would exempt the $800 car first and then partially exempt the $2800 one and hope the trustee doesn't want to waste their time.
Do you have a wildcard exemption in your state?