Legal Question in Bankruptcy in Florida

selling of car before filing

I am looking to file Chp 7 as soon as possible. I have a car paid off and valued at $12000. My attorney said to sell it and spend the money on ''legitimate'' bills, then we can file in 3 months. What exactly can I spend the profit made on the car on??? Can I spend on new bills incurred after the selling of the car, or do I have to pay off existing debts?


Asked on 7/31/01, 5:34 pm

3 Answers from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: selling of car before filing

Regrets. will not second guess your atty. You have an atty, follow his advice. Good luck.

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Answered on 7/31/01, 6:27 pm
Richard Birkenwald Richard Birkenwald, Esq.

Re: selling of car before filing

Sounds like Chapter 13 would be more appropriate. You keep the car but repay at least $11,000 worth of unsecured debts over a maximum period of 60 months. Of course you need adequate income to fund the Chapter 13 plan.

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Answered on 7/31/01, 6:35 pm
Joel Cohen Joel M. Cohen,P.A.

Re: selling of car before filing

Surgery? Yes, get a second opinion. Law?

Choose an attorney that you trust and take his advice.

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Answered on 7/31/01, 7:22 pm


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