Legal Question in Bankruptcy in Florida
How is automobile equity determined?
How is automobile equity determined? An attorney told me to check the ''Blue Book,'' but will the retail value or the trade in value will be used to determine how much equity I have in my car in bankruptcy court.
Also, if the value is too much, is it legal for me to trade it in for a leased car before I file?
Asked on 11/06/00, 6:26 pm
1 Answer from Attorneys
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: How is automobile equity determined?
Your atty should be able to provide you with the appropriate answers.You definitely are in need of an atty to represent you in the bankruptcy proceeding. I urge you to retain counsel prior to acting.
All trtanfers of property within the proximity of filing will have to be disclosed in your petition.
Answered on 12/04/00, 4:27 pm
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