gravelgirl66 Posted December 14, 2004 Report Share Posted December 14, 2004 I have all my papers ready for my Bk. 7 to send out on friday.But on my Total Assets Amount is $2675.00Over my state's limit. b/c the equity in my car 1500. which is being surrended back to the dealer. Is that still gonna be okay for my limit.?Personal Property: 1175.00Vehicle Not paid for: 1500.00Total assets:Is this gonna put me over for FL of 2k? Are they gonna make me pay soemthing. I am giving the car back b/c I owe too much..thanks Link to comment Share on other sites More sharing options...
willingtocope Posted December 14, 2004 Report Share Posted December 14, 2004 I'm guessing that being $675 over the limit isn't going to get the trustees attention. But just in case, how did you arrive at the $1500 value for the car? You want to value it based on what a dealer would give you for it...same thing for your other assets...garage sale prices.... Link to comment Share on other sites More sharing options...
gravelgirl66 Posted December 14, 2004 Author Report Share Posted December 14, 2004 I am guessing that's what equity I have in it.I owed 3200 and I have paid 1500. But it was on my paper as an "asset"?Anyways next question: think fast... my dang car pymt. people called AGAIN..."please let us know what you are doing, b/c we are coming to get the car"what do I do? The paper won't go out till Thursday atleast, probably not get there till Monday. So the stay won't be in effect till then... Tell them it is going through BK. proceedings and they will recieve some papers in the mail?Or get my husband to drive it till I get the papers done...I am scared they will come to my house to get it...and I am SUNK then.thanks Link to comment Share on other sites More sharing options...
willingtocope Posted December 14, 2004 Report Share Posted December 14, 2004 Do a search on google for "blue book price" on the car. If you only paid $3200 for it, then its not worth $1500 at this point. List the blue book price on your schedules....then file the papers....and tell the dealer you've filed BK. Let the trustee sort it out... Link to comment Share on other sites More sharing options...
LadynRed Posted December 14, 2004 Report Share Posted December 14, 2004 NO, you do NOT want bluebook value you want BLACKBOOK value. If you financed 3200 and have paid 1500, (in how many years ??), then the difference is NOT your equity at all. Try this for a blackbook quote:http://www.carquotes.com/blackbook.aspCan you GO to the courthouse to get this case filed ?? You can do an emergency filing which only requires the first form and your creditors matrix (check that, I don't have my book here). Then you will have 15 days to file the rest of the schedules, which should be no big deal since you've got them anyway. If you can't go there, then put the car somewhere that it can't be taken -inside a garage is good, they cannot tresspass to take it, they must not 'breach the peace' - or the law. Link to comment Share on other sites More sharing options...
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