Short and sweet - My credit sucks, a family member bought a car for me and I make payments, I put $10,000 down & owe family member another $10,000. I've been making payments. Is this legal? Will this be viewed as Preferential Treatment?
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Family member holds title to my car
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A question first - do you and the relative have a legal, signed, notarized loan agreement with signatures on it for the $10K? Or is it a "handshake" deal?I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go
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Originally posted by catleg View PostSounds like you are actually renting use of the car from her.If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.
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Hi. I'm doing the same thing with my mom. Just a handshake deal. Truck is a little cheaper = $11K. Did this recently, as of November 2008. I plan to keep the car and continue making payments, but everything is in her name. My lawyer doesn't seem to know how to treat this. I explained this to the trustee and they didn't seem to question it at the 341. Don't know if that is good or bad. Any thoughts? Thanks.
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Originally posted by bumpruptcy View PostHi. I'm doing the same thing with my mom. Just a handshake deal. Truck is a little cheaper = $11K. Did this recently, as of November 2008. I plan to keep the car and continue making payments, but everything is in her name. My lawyer doesn't seem to know how to treat this. I explained this to the trustee and they didn't seem to question it at the 341. Don't know if that is good or bad. Any thoughts? Thanks.May 31st, 2007: Petition Filed by my lawyer
July 2nd, 2007: 341 Meeting Held
September 4th, 2007: Discharged and Closed.
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Yep I paid my mom
I paid my mom. $1100 to start and $200 everything month thereafter. I didn't say anything about the $1100. I wonder if it is even possible for me to contact another attorney to draw up some sort of notarized document that indicates that my mom holds the title, but I am paying for use of the car. Is that even something I should try to pursue? Thanks.
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