T
Tabadabing
Guest
I live in Oklahoma. Approximately a year and a half
ago, I filed Chapter 13. I was allowed to keep my car
and my home. I regularly receive income tax refunds,
and these are put in trust. There is approximately
4K there now. From my understanding these funds
will go to unsecured debts at the end of the bankruptcy.
In May of this year, I won a 2001 Chevrolet Malibu from
my employer. I did not enter or buy a ticket, all employees
names were entered automatically. This was a promotion
for General Motors. Out of 3000 or so employees, 10 names
were drawn to receive a key..whichever key fit won. I
planned on giving this car to my daughter who just graduated
from high school. I worry about her being on the highway
in an undependable vehicle and it saved me the hassle of
trying to figure out how to buy her a car. I was thinking it was a
Godsend because it was free, except I will have to pay taxes
on it at the end of the year. Today I got a letter from my trustee stating I will have to surrender the vehicle so it can be sold to be put in my unsecured debt account. Do I have any alternatives?
I did not ask for this car, but it is turning out to be a nightmare!
It will also be included as income and my payments will go up!
I could understand this if I went and bought a car or bought a ticket for a raffle, but I did nothing. Any help would be appreciated.
ago, I filed Chapter 13. I was allowed to keep my car
and my home. I regularly receive income tax refunds,
and these are put in trust. There is approximately
4K there now. From my understanding these funds
will go to unsecured debts at the end of the bankruptcy.
In May of this year, I won a 2001 Chevrolet Malibu from
my employer. I did not enter or buy a ticket, all employees
names were entered automatically. This was a promotion
for General Motors. Out of 3000 or so employees, 10 names
were drawn to receive a key..whichever key fit won. I
planned on giving this car to my daughter who just graduated
from high school. I worry about her being on the highway
in an undependable vehicle and it saved me the hassle of
trying to figure out how to buy her a car. I was thinking it was a
Godsend because it was free, except I will have to pay taxes
on it at the end of the year. Today I got a letter from my trustee stating I will have to surrender the vehicle so it can be sold to be put in my unsecured debt account. Do I have any alternatives?
I did not ask for this car, but it is turning out to be a nightmare!
It will also be included as income and my payments will go up!
I could understand this if I went and bought a car or bought a ticket for a raffle, but I did nothing. Any help would be appreciated.