Legal Question in Bankruptcy in New York

chapter 7 and my car

I plan on filing chapter 7 pro se due to lack of funds. I own a 2005 Chevy clear, with a Blue Book Value of 10,800. If they take my car, I can't get to work and will be homeless. Is ther any way around this?


Asked on 10/03/08, 8:10 pm

1 Answer from Attorneys
Andrew M. Doktofsky Andrew M. Doktofsky, P.C.

Re: chapter 7 and my car

The exemption limit in New York for motor vehicles is $2,400. If your car is worth $10,800 and you file for Chapter 7, the trustee will demand that you turn it over to be sold. This is based on the information that you provided that you own the vehicle free of any liens.

You should not file for Chapter 7 if you want to keep your vehicle.

If you have moved to New York State within the past two years, you may be able to take advantage of more generous exemptions from the state you moved from.

You should definitely consult with an attorney prior to considering bankruptcy, especially if you risk losing a major asset.

Visit my website at amdlaw.com for more information.

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Answered on 10/03/08, 9:23 pm


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