QUESTION
Can the trustee take the vehicle if I file chapter 7?
Asked on Aug 04th, 2013 on Bankruptcy - Kansas
More details to this question:
My Wife and I are about to file for bankruptcy. I am not sure if we should file chapter 7 or 13. Our home is protected by law and I only have up to 2,900 dollar's. My concern is that I have a 2001 dodge pickup and a 2004 Toyota Senna van both have over one hundred thousand miles and they are unprotected from the bankruptcy. These vehicles are our only transportation to work.
3 ANSWERS
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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In Missouri, you can each keep a vehicle with equity up to $3,000.
Answered on Aug 19th, 2013 at 7:59 PM
If each vehicle is worth less than $3,000 you have nothing to worry about if you file Chapter 7.
Answered on Aug 12th, 2013 at 10:20 PM
Bankruptcy Attorney serving Overland Park, KS
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The Smalley Law Firm, LLC
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I am not sure why you think they are unprotected from bankruptcy? In Kansas each debtor is entitled to exempt one vehicle.
Answered on Aug 12th, 2013 at 10:19 PM