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#1
09-16-2005, 02:06 PM
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Putting Car in My NameWhat is the name of your state? NORTH CAROLINA I have a 1997 Lincoln Town Car, which was my late father's. The car is still in his name, and the insurance has run out. I'm going to be putting it in my name, because there's no one else who can put it in their name. Looking at the exemptions and wild card, I think we can cover the $4500 that KBB says the car is worth as far as trade-in value. Do any of you knowledgeable folks think this poses a problem? |
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#2
09-16-2005, 06:07 PM
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| Not really, but I'd get another quote, KBB tends to be on the high side. Get a BLACKBOOK quote on it.. then subtract the cost for any repairs it might need. NC exemption for a vehicle is only $1500. Then you can use whatever you've got left of the wildcard to bump that up.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#3
09-16-2005, 06:45 PM
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| I thought that the exemption amount would double if you were filing a joint Chapter 7... |
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#4
09-16-2005, 08:42 PM
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| You never said anything about a joint filing. If the case is joint, then yes, the exemptions are doubled.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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