What to do abot a car if I’m in the middle of a bankruptcy?

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What to do abot a car if I’m in the middle of a bankruptcy?

We have 2 automobiles with a combined worth of $2800. The car I use for work was recently totaled. I need a new car. My job overpaid me 2K on my last check and said they will take it out of future checks. So now I have money to get another car. Will this cause a problem with my bankruptcy? I need a car for work because I work out of town at least a week every month. My spouse needs his car to get our 3 kids to school and in case of emergencies.

Asked on March 25, 2013 under Bankruptcy Law, Arizona

Answers:

eric redman / Redman Ludwig, P.C.

Answered 8 years ago | Contributor

an auto of that value should be exempt(proteected) in your state.  if you have already filed a chapter 7 no thing is needed.  if have not yet filed the BK, just put the new car on the schedules as an asset.

if you are in a chapter 13, get consent of the chapter 13 trustee


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