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I have my name on a car title with my ex. He wants to get my name off the title so he can trade it. Is this something I can do without messing up my bankruptcy? I have been paying the bankruptcy courts for 18 months now, and don't want to mess things up.
5 ANSWERS
If you sign off on the title and take your name off the car, that won't affect your bankruptcy at all.
Answered on Jul 11th, 2013 at 4:52 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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In Arizona, while in a chapter 13, you cannot sell or transfer assets without at least the trustee approving .
Answered on Jul 11th, 2013 at 11:27 AM
As long as you disclosed ownership of this vehicle on your schedules, I don't see that this is a problem.
Answered on Jul 11th, 2013 at 10:49 AM
Bankruptcy Attorney serving Dallas, TX
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Polk & Associates
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Whether or not it will mess up your bankruptcy depends on how the car is treated in your Plan, and whether the plan has been Confirmed yet. You may have it structured so the car is being paid through the plan, or it may be listed as pay-direct. The car may have unexempt equity which then was required to be calculated into your Unsecured Creditors Pool. There are several other factors as well.
Answered on Jul 11th, 2013 at 10:49 AM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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If you are in a Chapter 13 bankruptcy you will probably need the consent of the judge. The creditors may have rights in the asset. Your bankruptcy attorney should advise you before you sign anything.
Answered on Jul 11th, 2013 at 8:53 AM