I wanted to include my vehicle in my bankruptcy due to the fact that I have so much negative equity in it. However, I was told that since I had been driving it for the last 8 months I was not eligible to do so? Does this make sense? Did I get bad advice from the offset? And what are my options at this point? I don`t want to start my clean slate by having this heavy debt burden on my back? Please advise soonest as my discharge date is fast approaching. Thank you very much.
Including vehicle in Bankruptcy after the fact
Posted on Sunday, November 30, 2008
posted by Questions @ 9:42 am
1 Expert Comment:
At December 1, 2008 |
9:48 am
, Barton Goth, Trustee in Bankruptcy Said...
If you filed bankruptcy 8 months ago and have been driving it for the last 8 months after the bankruptcy then you cannot include the vehicle in the bankruptcy. This is a decision that has to be made around the time you file for bankruptcy. If you make arrangements to give the vehicle back after a bankruptcy has been filed it is to late. Likely your trustee would have explained this to you when you first met, but now if you return the car you will be fully responsible for the shortfall.
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