Mr. White Posted August 11, 2005 Report Share Posted August 11, 2005 ok, here's the deal...i'm in the process of filing bk 7 in state of missouri.....i am driving a car that i made about 80-90% of the payments on, however, the car is not in my name, it's in my parents name...the title that is....i never got around to getting the title in my name, yet i continued to pay my parents and in turn they paid on the loan in their name. does this mean that i have to list it as mine with the rest of my assets or not? thanks alot. Mr. White Link to comment Share on other sites More sharing options...
LadynRed Posted August 11, 2005 Report Share Posted August 11, 2005 If its not in your name, you can't list it as an asset.. which means that you don't forfeit that part of your exemptions for a car either. If you're name isn't on the loan, you can't list it as a debt and you really can't list the payments as an expense either. Are you still paying your parents for the car payments ?? That could be trouble, those payments would be seen as preferential to an insider. Link to comment Share on other sites More sharing options...
Mr. White Posted August 11, 2005 Author Report Share Posted August 11, 2005 no, i'm not still making payments on the car....i am paying insurance on the car...but i'm under my parents policy...more like it's their insurance, they just added me as a driver....Mr. White Link to comment Share on other sites More sharing options...
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