Getting rid of 7-9k

[JimH]

wait, they are the owners of it. its theirs. not his. no insider since they are not creditors.

The car he has to sell is in his name but bought by his parents. At least that is what I understood.

[bkfiler]

well why sell it. its his parents. why cant he show them the document that says they own it but they registered it in his name.

holy smokes, are we re-hashing this long arse thread all over again

i need some help haha

[JimH]

well why sell it. its his parents. why cant he show them the document that says they own it but they registered it in his name.

holy smokes, are we re-hashing this long arse thread all over again

i need some help haha

If it's titled in his name, it doesn't matter who paid for it. It's his. That's the whole purpose of "titles" - to show who owns something.

[Graphic]

Yep, that's what the lawyer said it came down to. Doesn't matter to paid for it it's in my name.. tough luck is basically what the trustee will say =\

[bkfiler]

but what about putting their name on it before you file and finding that document that says they own it, etc?

[JimH]

but what about putting their name on it before you file and finding that document that says they own it, etc?

uuuggg!!!....... you sure are sounding like a newbe today. Any transfers within the last year have to be disclosed.

[Graphic]

Actually under the new law it's 10 years =\

[JimH]

Actually under the new law it's 10 years =\

Actually I think it's ten years to asset protection plans such as irrevocable trusts. It's one year to insiders but tapers up to two years from the 10/17 date. Haven't looked at these timings in awhile so I could be off on this.

[bkfiler]

ok put down the pork rib and listen!

yes disclose the transfer and all that fine. but show the document that says the parents bought him a car and thtey still own it but they put it in his name so he is legally responsible for damage he causes. the paperwork would show they still owned it.

[Graphic]

Could be, I just remember when I was reading thru the laws in WestLaw reading about it going from 1 to 10 years, although I didn' really look at what it pertained to down to the core. Either way I think this is my best bet. Does anyone know where they sell the cars like that are repod? I mean I owed 44 on mine, they sold it for 29.. it was worth way more than 29 ... shit still is. Would it just be like at an ordinary dealers auction or what

[bkfiler]

dealer autcions. you cant go to ones where they are that cheap. thats the way the market works.

remember that the bbq sauce all over jimh's face was bought for $0.15 and sold to him for $3.50 but you arent asking where to get that either hehe

thats how it works. they keep others out so as to create their own business. the auctions that you can go to have a higher price on them. some auctions are at the same place but the dealers go at a different time.

[JimH]

The repo auctions are posted in the legal section of the newspaper. Usually there is one or two a month wherever you live. You have to register with the auctioneer, have certified funds, etc.

[Graphic]

My neighbor goes to them all the time,hes a dealer, that is why i was asking! I didn't know if it was a special REPO AUCTION or just a regular dealer's auction Guess I will have to go next door when he gets home .

[bkfiler]

hell yeah, id go next door and ask too.

maybe we can start a company together. jihm, you got any cash left to get this going?

[JimH]

lol.... yeah that's what I need - start another business with my bk friends.