Sign in to follow this  
grantmo

secured claim versus property

Recommended Posts

I am trying to file BK by myself instead of uising a lawyer. I am trying to understand it and complete the forms from two online BK companies. I was wondering if anyone could tell me when I file my "Schedule B" - perosnal property, do I include a car that has a lien on it or is this considered a secured claim?

My car is worth $4020 and I owe exactly $3600 on it, so my equity is $420. If I do list this car on this form, would I list the value to be 420 or for the full value of the car, 4020?

OK - you can tell me to get a lawyer and I am thinking about doing it, but was wondering if anyone knows about this kind of stuff. I want to see if I can finish all of the forms and understand them. If I just can't make it work or am not 100% sure, then I will get a BK lawyer. Any help would be great!

Grant

Share this post


Link to post
Share on other sites

A car should be a secured claim. When I put my jet skis down, it was under secured, and had the actual amount that was owed listed. You have to really read them papers to make sure you get all this right, or your gonna be dismissed. Why not call a lawyer and get free consult, and ask the questions that you have to him/her. If you can get all your questions answered this way, you might have a better chance to do it yourself.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this