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Chapter 7 and lien on vehicle

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tequilarose1961

Junior Member
What is the name of your state? Ohio

I am getting ready to file for Chapter 7 and I the vehicle I have was signed over to me from my brother, with a verbal agreement that I would pay him $3500 when I was able to pay. I have the title to the vehicle in my name. To make sure my brother gets his money, can he file a lien on the vehicle so that I will no run the risk of losing the truck, or having to pay the court the amount above an beyond my exempt amount? And if he can, what steps does he have to take to secure the lien.
 


Ladynred

Senior Member
It would be a very bad idea to make such a move right now. It could be seen as fraudulent and get you in big trouble with the BK court.

Get a BLACKBOOK quote on the value of the vehicle and figure the exemption using that value.
 

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