Question Auto Lien Florida

[langs19]

Hello all,

I am going to file chapter 7 in the next few weeks. It should be pretty straight forward as I have no assets and don't make much.

I have a question though. My mother has loaned me $3000 to buy a cheap car to drive. I bought one and have the title but have not registered it yet. When I register it I can list her as the lien holder on the title which will be sent to her (I have done this before for a personal loan). I can't have more than $1000 equity without losing the car or having to pay. The car is only worth $3000 so will this plan be ok? Will they look at it differently since it is a personal loan from a family member rather than a bank. Is there a chance I will still have to surrender the car I just bought? Thanks for any help.

[justbroke]

I have a question though. My mother has loaned me $3000 to buy a cheap car to drive. I bought one and have the title but have not registered it yet. When I register it I can list her as the lien holder on the title which will be sent to her (I have done this before for a personal loan). I can't have more than $1000 equity without losing the car or having to pay. The car is only worth $3000 so will this plan be ok? Will they look at it differently since it is a personal loan from a family member rather than a bank. Is there a chance I will still have to surrender the car I just bought? Thanks for any help.

When did she loan you the money for the car? The Trustee has pretty strong avoidance powers. .

I believe, by Florida Statute, that a lien needs to be recorded within 15 days of the transaction. While you could still record the lien on the title... you may have issues with the 15 days. The Trustee might seek to avoid that lien.

I would get a consult with a few attorneys to ask them about this lien issues. Lien and Title issues are the prime way that Trustees make their money. Don't let the Trustee take your car.

Also, be aware that if you don't have a homestead (or are surrendering one in the Bankruptcy), you have another $5,000 in wildcards that could be applied.

[langs19]

She just loaned me the money and I have not registered the car. It would be registered for the first time in my name and have the lien recorded the same day.

I can't afford an attorney so I'm just using a service that prepares all the paperwork for like $150. If anyone could recommend an attorney or other service. The ones I called around here wanted $1500+ I don't have.

I don't have a homestead so if there are $5000 in wildcards that would cover a $3000 car that would be all I need. I did not know about that, but I'll look into it.

[justbroke]

How many days, weeks, or months ago did you purchase the car. If it's not yet 15 days, you need to get to the Collector of Taxes and get that puppy registered with that lien.

I don't have a homestead so if there are $5000 in wildcards that would cover a $3000 car that would be all I need. I did not know about that, but I'll look into it.

I don't think you're ready to file, if you don't understand the exemptions. May I ask why you're filing? What's your debt looking like?

(Please Note that my statutes may be off, as I'm too lazy to look them up right now and have something in the oven.)

1. You get $1,000 for any car. F.S. 222.25(1)
2. You get a $1,000 wildcard for any property. Florida Const. Article X SEc. 4
3. You get a $4,000 wildcard for any property if you don't use or receive the benefit of the homestead exemption provide in the Florida Constitution. F.S. 222.25(4)

[langs19]

It's true there is a lot I don't know. I was counting on this service getting everything together for me.

I have around $10k in cc debt, a motorcycle loan (giving it back) that I am $4000 upside down on. A reposessed car that I owed $35k on and they probably auctioned off for $20k leaving me on the hook for the balance. I'm making less than half what I used to and had no way to keep paying any of this. I moved in with a friend and have very little bills now, but still can't make enough to get ahead.

I purchased the car from a private individual about 4 weeks ago, but we did not date the title so I can date it for tomorrow and go register it as if I bought it then. I just was afraid the trustee would think I was putting the car with a lien on it with my mom's name to avoid losing it.

[justbroke]

My computer crashed, so I lost everything I was writing!

It's true there is a lot I don't know. I was counting on this service getting everything together for me.

Please be aware that they can't provide legal advice.

I have around $10k in cc debt, a motorcycle loan (giving it back) that I am $4000 upside down on. A reposessed car that I owed $35k on and they probably auctioned off for $20k leaving me on the hook for the balance. I'm making less than half what I used to and had no way to keep paying any of this. I moved in with a friend and have very little bills now, but still can't make enough to get ahead.

Okay, so you do have about $20-$24K of debt.

I purchased the car from a private individual about 4 weeks ago, but we did not date the title so I can date it for tomorrow and go register it as if I bought it then. I just was afraid the trustee would think I was putting the car with a lien on it with my mom's name to avoid losing it.

Sounds good. In any case, you can cover it in your $5,000 wildcard plus the $1,000 exemption for a car!

[langs19]

Thanks for the help!