ok i just recently filled for chapter 7 with a attorney.
i owe $10k for a car that was repo and i owe about $6k in credit for a total of $16k
i owned a car and it was worth kelly blue book value of $7-13k
now i just recently sold the car for $4000 bcause of repairs that need to be done. when i bought the car i registered it and said i paid $4000. now if i say i sold it for $4000 will the judge or whoever say i need to pay? i was told i get to keep only $2500 in exemp and the rest i will have to pay. the new buyer of the car registered it saying he paid 4k...so will they look into that? or just say the car is worth $7k kbb value no matter what i say or condition?
please help
ps i live in ny if that helps
i owe $10k for a car that was repo and i owe about $6k in credit for a total of $16k
i owned a car and it was worth kelly blue book value of $7-13k
now i just recently sold the car for $4000 bcause of repairs that need to be done. when i bought the car i registered it and said i paid $4000. now if i say i sold it for $4000 will the judge or whoever say i need to pay? i was told i get to keep only $2500 in exemp and the rest i will have to pay. the new buyer of the car registered it saying he paid 4k...so will they look into that? or just say the car is worth $7k kbb value no matter what i say or condition?
please help
ps i live in ny if that helps