FL. filing and sold my car:

[gsweetsue]

FL ..can I keep my car?

What is the name of your state? FL

I am filing for ch 7 this week. I had 2 automobiles. one I sold May 4 for $1300 (to a person whom I owed over $1300 to and we called the debt even). The other car is a 95 saturn that i would like to keep, The blue book says its worth worth about $2500. I know im only allowed $1000 in auto so they will probably seize it. if I sell it now at $2500 and the money immediately goes fo legitimate court costs and other bills I have (mortgage), will I have a hard time at the bankrupcty court? If I keep this car. Would they accept the value of the car and allow me to keep it if I value it on the bankruptcy papers at $1000? Thank you...Susie

 

[skwirl]

First, the trustees aren't stupid, don't try to lowball the value of your car. If you do, they may get picky with the rest of your petition or worse, dismiss your case. To answer your other questions, yes you can sell it and pay for an attorney and court costs and buy a car worth $1,000 and most likely the trustee won't bat an eye(if he/she says anything ask them how they expected you come up with the money to file in the first place, unless you sold something). You can also justify the other car situation but they may question it.