Princess
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Yes my friend declared himself bankrupt & he was able to keep his car, He's disabled.!!! |
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yiannis the greek
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donate the car to your mum.
change name on the car papers and they cant take it. |
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martinsmithdunbar
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fcuk that. find a trust worthy mate, girlfriend etc and sign the car over to them. the bank cant touch what is officially not yours. make sure they are TRUST WORTHY!!! |
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anne b
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say it is your mums car sign it over or to a mate or they will take yes |
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Faye H
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I don't know what country you are from but in the U.S., they check all of your bank records going back something like 5 years. If they find that you recently transferred an asset to avoid losing it, like a car, bank accounts, stocks, etc., you are so totally screwed.
In some cases, you will be allowed by the courts to keep your car. Each case is evaluated individually.
In the U.S., you are now required to get credit counseling before you can file. Look on the the DOJ website (link below) for a list of approved credit counselors in your state.
There are certain assets you will be allowed to keep. You'll need to check both the federal laws and the laws in your state to figure out if your car is going to be exempt. |
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derek.ballantyne@btinternet.com
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you will get to keep yer car if it is the only means of transport to get you to your work? |
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Joe Bloggs
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People have needed houses to keep themselves warm from the cold and rain and snow. Its never stopped banks from repossessing their homes and kicking them out if they can't keep up their mortgage payments. Harsh realities of life. |
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just-dave
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i think u can keep the car if it's needed for daily living or needed for employment or a cheap car http://www.nationaldebtline.co.uk/england_wales/about_us.php
Can i ask u how much does a person need to owe before taking these steps? |
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bluebadger
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Your car is an asset, and will be seen as such by the bankruptcy court.
Sign the car over to your Mum.
As she is ?registered disabled?, she can claim for the tax too, if you live in UK and she gets DLA.
Failing all this your car will be seized with your other assets when you get that far, and will be sold to pay towards your bills. |
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nosdda
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It is usual to count your car as an asset and take it, but because of your mothers disability you may be able to keep it, it will depend on the outcome of your bankruptcy. The reciever may count it against your debts. |
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monkeyface
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Your car is an asset & if you are bankrupt ALL your assets are seized. You will just have to start using public transport. |
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ceyalatr
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Are you going chapter 13, or chapter 7? The laws from what I hear had changed quit a bit. But from before 2006, I have a few answers. But your not giving enough information. Is your car finance or is it paid off. What year is it. What the car is worth, will you be able to continue paying the car off, if they Consolidate. Or they may take it, and make you get a cheaper one for the transportation to and from work. But if you have to see a lawyer no matter what . They know how to get around allot and lose allot. of what you owe, they do the calling and negotiations. He's gonna get into your pockets too, but believe me its the way to go. Just go for a free consultation. Hey, good luck I was buried and I couldn' t get out of the hole. Every time, I would try to figure out things, like pay one with the other, Not a big income, and only so much overtime side jobs just wasn't cutting it. Very Very stressful. Best thing I did was to see a lawyer and yelled for HELP. |
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gabriel jones
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Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers! |
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md m
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i agree with marti get someone who you can trust ie yr mum as owner then change insurance with you as 2nd driver that way you keep yr car
you dont have to be a driver to be a car owner |
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terratrio
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Yes i think if you can justify the reason you need your car, eg if you need it to go to work to get money to get yourself out the situation then yes i think you can, or register it in someone elses name just in case |
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bonez007
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if you are still in work and using the car for the work you do , not just to get to and from work, then they carnt take the car off you but like someone said you can sign the car over to you mom and that way they carnt even argue the fact..... |
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farheen_is_a_kool_fool
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,. ,.,,////////////////////////////////////... ml m;okj yul;kki.;kjkjlhl hkhyk,jklkj chinese language |
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:) peace
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no... they dont care...
im sorry though but that just teaches you that it is important to keep a savings |
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