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can an individual filer take expenses for 2 cars in means test?

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    can an individual filer take expenses for 2 cars in means test?

    am filing a chapter 7.

    i have 2 cars which i regularly use.

    can i take 2 car expenses in the means test (form 22a)?

    i don't qualify for a 7 without it.

    i'm in east tennessee (for what it's worth).

    #2
    I would say yes provided you can justify why you need two.

    Why do u need them?

    Comment


      #3
      From bankruptcylawnetwork dot com:

      "In a Chapter 7 bankruptcy, you can keep any property that is exempt. Exemptions vary from state to state so check with local competent bankruptcy counsel for the answer in your state.

      In California, where I practice, there are two types of exemptions. Under one kind, you can keep as many cars as you want but only up to a value of $2550! Thus if you have two cars worth $2000 a piece and you don't owe anything on either of them, the Chapter 7 trustee will want you to turn over one of the cars or buy the non-exempt amount from the bankruptcy estate.

      Under the other kind of exemptions (like the Federal exemptions that are applicable in many states), you can keep one car up to a value of $3300 or as many vehicles as you want by using the "catch all" or "wild card" exemption up to $21,825!

      In any event, the number of vehicles you can keep in a bankruptcy varies, as noted above. A competent bankruptcy attorney in your state can guide you through your situation to maximize what is kept and minimize the impact of filing."
      Filed Chapter 7 July 2010
      Attended 341 September 2010
      Discharged November 2010 Closed November 2010

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        #4
        isn't any really good reason why both cars are needed.
        one is a mustang (that is babied) and used for pleasure.
        one is a tacoma and used for hauling, etc. (but not for a job/employment)

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