Legal Question in Credit and Debt Law in Georgia
Are paid-for vehicles safe from debt collectors and bankruptcy?
My husband and I are both listed on the title of our car, which is paid for. The car was purchase before we were married. If I file for chapter 7 bankruptcy independently from my husband, can my creditors get the value of the car although it is in both our names? Can they sue for the value of the vehicle or place a lien on it regardless if I file or not? Additionally, my husband is disabled and does not have a license, is it possible to transfer the title to him solely; and would this be wise to do before filing for bankruptcy?
1 Answer from Attorneys
Re: Are paid-for vehicles safe from debt collectors and bankruptcy?
Transfering property to evade creditors prior to a bankruptcy is usually treated at best fraud and at worst a crime. At best, the bankruptcy is dismissed, or your car is taken away, or at worst you go to jail.
Instead of thinking in ways that will get you in enormous trouble (and yes, creditors can seize a paid for car if they have a judgment), you need to talk with a lawyer, find out what you can and cannot do, and go from there. (In some cases, depending on the value of the car, you might retain it in bankrutcy, UNLESS you give it away, so it is in your interest to see counsel immediately).
Go to www.glenashman.com, get one of our bankruptcy worksheets, complete it, and we'd be glad to review it and see what options you have.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
