Living in Europe...can't pay CC debts in California

[expat]

The car is paid for. It was part of a divorce settlement on my part. Right before I moved to Europe, my parents bought it from me. We've just never changed the title because we saw no reason to. My parents already have two cars (both are leased) and this third car is their only car which they outright own.

So like I said, if they were to file for bankruptcy, I'm afraid that this car would be taken from them (if I change the title to them). They actually want to sell it so they can get some $$ out of it and how that affects me, I really don't know. Maybe it's like out of sight, out of mind...if they don't have it and I don't have it, then no one will put a lien on it. The car is worth 25K blue book so it's a substantial amount to worry about.

[BROKENN]

25K KBB? What is it?

[expat]

2004 545 bmw.

[BROKENN]

Alright, that's a problem.

If they sell it, they can't file for awhile and it would be added as income. 6 mo I think.

If you take it back, garage it at your sister's and just wait for the storm to blow over, that is an idea.

Or, sell it and pay bills and not file BK?

[expat]

Well, not sure if this helps but the car is registered at my ex-husband's address. It's under my name but it's registered there. But then again, the address I use is my parents' address...which is where the car is at.

My parents are just thinking about filing BK but haven't really gotten to that point yet. So I guess if they want to sell it, they should sell it now.

Wouldn't we have heard something by now about a lien on the car? I mean, seriously...it's been almost two years since I've paid a cent!! (knock on wood) Is there a website I can check this sort of thing?

[BROKENN]

Here is a link for sales:

http://www.bkforum.com/showthread.php?t=30117

CC are unsecured so they can't lien it. And it is paid for so the only one who COULD HAVE liened it would be the car loan co.

And YOU would be selling it and gifting the money to your parents which is another pre-planning BK problem. Search the forum for that.

[expat]

Funny you mention that link...I just read it right before I read your reply.

So basically, you're saying that no one can go after this car because my debts are CC debts, which are unsecured debts, which means nothing I own is subject to a lien? Confused here...

[BROKENN]

Yep. Just wage garnishment, which is why we asked you earlier

[expat]

Ok so ALL they can do or could do is garnish my wages...and since I don't have ANY wages, they basically can't do anything?!?!

Somebody pinch me. It can't be this easy. I was making myself sick the last two years worrying about this. Seriously, it can't be this easy...

I only wish I had discovered this forum 2 years ago.

[electricbob]

So after a year??

I know that you probably aren't checking this forum anymore but if you do... how has everything worked out for you after a year??