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Questions on Bankruptcy 2

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cntrybear1

Junior Member
What is the name of your state? Montana

I thank those of you who have answered my first message here on the forum. My other question that I have is that I just pawned the title to my 1994 Ford Bronco for some money to live on and pay bills with. I am in the process of trying to get my vehicle back from the pawn shop now (which shouldnt be too long). With bankruptcy, am I allowed to keep my bronco? And, should I wait till I get my bronco back from the pawn shop before I file for Chapter 7? As far as I know, my bronco is my only asset that I own.

Thanks again for all your responses. Your responses are greatly appreciated in helping me figure out what I need to do next and how to go about it.

Christina
 


[email protected]

Junior Member
of course

cntrybear1 said:
What is the name of your state? Montana

I thank those of you who have answered my first message here on the forum. My other question that I have is that I just pawned the title to my 1994 Ford Bronco for some money to live on and pay bills with. I am in the process of trying to get my vehicle back from the pawn shop now (which shouldnt be too long). With bankruptcy, am I allowed to keep my bronco? And, should I wait till I get my bronco back from the pawn shop before I file for Chapter 7? As far as I know, my bronco is my only asset that I own.

Thanks again for all your responses. Your responses are greatly appreciated in helping me figure out what I need to do next and how to go about it.

Christina
I know in my state colorado you can keep your car as long as the value is not more then 6 thousand dollars I believe its a federal exemption too.I found
the exemptions in my home states webpage in the legal section.We owned our car outright also..no lenders.Your lawer should also tell you the exemtions your entitled too.
 

Ladynred

Senior Member
Exemptions vary by state and NOT all states allow you to use Federal exemptions. The vehicle exemption in MT is $2500 as stated by Bigun. If the equity is higher than that, the vehicle could be in danger from the Trustee.
 

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