2nd Automobile

What is the name of your state? georgia

Under chapter 7, I have an car valued less then 5k. I have a 2nd that is valued above 15k, it is paid in full. The tricky part.. My spouse and I are divorcing, she has 2nd auto and is using it for her means of transportation to and from her workplace. However, it's in both our names currently. If I file Chap 7 before divorce is final will she have to give up this auto for my trustee to pay my creditors???
I have heard a couple of answers from friends. She gets to keep it because it's her primary means to get to work. Heard know goes it's valued over 5k..

[Ladynred]

If the car has your name on it when you file and its quick-sale value is over the exemption amount, its most likely the trustee will take the car.. primary transport for her or not, it would still be considered one of YOUR assets.

Even a finalized divorce wouldn't help unless your name was removed from the car per the divorce decree. Bankruptcy is federal law, and state's laws, like divorce, are pretty much ignored by the federal court. However, even if your name is removed via the divorce decree, I don't know if that would be considered a transfer of assets, although it may be considered by the Trustee as involuntary and not an attempt at fraud. Perhaps a Sr. Member can shed some light on that.

[nailtech]

my husband didnt have to list any of the assets he and his ex wife shared, cause in the divorce decree they were awarded to her and were no long considered "his" assets.. he did list the house they had shared to surrender his name off the loan... the trustee did ask about the other house, and husband told him it was awarded to his ex and thats all that was said about that... so if you divorced I dont think you would have to worry about losing the car cause its no longer considered yours but you would most likely file on it if there was a lein holder so that it would remove your liablity from the loan... JMO......