Legal Question in Bankruptcy in New York

Re: Equity in vehicle

The lawyer you hired for your bankruptcy should be able to give you legal advice regarding your question. Advice regarding exemptions generally, and some limited advice regarding legal methods of maxmimizing exemptions is typically included as part of the flat fee representation (at least for clients of our firm).

A transfer by a debtor of property having value to a third person for no consideration or inadequate consideration prior to a bankruptcy filing by the debtor is a potentially voidable fraudulent transfer that can be set aside by a trustee in bankruptcy.

If you are not happy with your existing lawyer, the client retains the right to change lawyers at any time and you may want a lawyer who actually gives you some advice regarding your exemptions rather than just saying "You have too much equity in your vehicle."

For additional information regarding personal bankruptcy matters please visit our website at www.starrandstarr.com/faqs.htm

Nothing in this response to your posting on Law Guru is intended or should be considered as legal advice to your specific situation. Our posting is intended to provide general information of interest to the public. Facts relevant to your situation and not disclosed in your posting may affect your specific legal rights and remedies.