braxas Posted January 16, 2005 Report Share Posted January 16, 2005 only trouble is my car, its an 02 with around 9-11k in worth with a clear title...Friend keeps telling me they cant take your only transportation, i think otherwise....im between a rock and a hard place, what should i do ? In chicago, winter, applied for a new job that is 35 miles away and requires good transportation to travel to customers, so getting rid of it is really not an option for meyet i have chargeoffs,behind on mortgage 2 months...etc...BK is perfect for me, yet im stuck at this crossroad ? Link to comment Share on other sites More sharing options...
LadynRed Posted January 17, 2005 Report Share Posted January 17, 2005 Wow.. that's a lot of equity, are you certain of that number ??I dont' see anything in the IL exemptions that says you can keep 1 car,, it only gives the exemption amount. In TX, they allow you to keep 1 car per licensed driver, too bad all state's don't do that.Is it financed ? Could you redeem ? That means paying the Trustee to keep the car ? Link to comment Share on other sites More sharing options...
braxas Posted January 19, 2005 Author Report Share Posted January 19, 2005 Its not financed, its free and clear title.Im behind in mortgage etc....will i be forced to give the trustee 9 k to file a chapter 7 ? Link to comment Share on other sites More sharing options...
5150 Posted January 20, 2005 Report Share Posted January 20, 2005 trade it in on a new one. even with a trade in you wont have much equity in a new car. Link to comment Share on other sites More sharing options...
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