QUESTION
Do I need to report a co-titled Vehicle in a Chapter 7 filing?
Asked on Oct 24th, 2013 on Bankruptcy - Virginia
More details to this question:
Filed Chapter 7 Bankruptcy last week. My father purchased a vehicle(2007 Buick) one year ago & titled it in both his and my names. Just remembered it & concerned it could be a issue. Again my parent purchased the vehicle.
1 ANSWER
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Yes, you do need to add this asset. Co-titled assets are still a part of "all assets owned by the Debtor" and must be listed on Schedules A and B. You also must list the exemption you choose for these assets on Schedule C. Consult with your attorney. If you do not have one, we offer a free consultation. Just call for an appointment. 540-349-3232 It is very likely that you will be able to keep this car, so don't worry. Just give us a call. Ask for John.
Answered on Oct 30th, 2013 at 12:21 PM