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dylatess
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5145
Experience:  37 plus years of experience specializing in bankruptcy law
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I filed a chapter 13 that failed because the judge thought

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I filed a chapter 13 that failed because the judge thought there is still a little equity in the home so the 2nd lien stayed on the house. I owe 245,000 on the first and a 150,000 on the second. the house short sale value listing in 250,000 if they can even get that. my second has filed a notice of default and a stated intent to foreclose. I asked them if they can re-modify the second to 50,000. but they say no. the 150,000 is currently a line of credit intrest only at about 6-7%.
I qualify for the chapter 7 however, I did not state two vehicles that I have. a 1967 camaro and a 1956 chevy. both cars are project cars and do not run. the 67 camaro maybe worth 3000 and the 56 chevy about 7000. However, I am close to the 25000 limit and I wanted to shelter the cars. I could transfer the cars to my two older sons. I have not disclosed these cars to the attorney I am working with. My chapter 13 attorney told me to not include them when I filed the chapter 13.
I did notice that all my bill collectors wrote off what I owe them. Only one show up on my credit report. I also went to the hospital to check out my bill and they stated bankrupcy on it.
the question is should I tell my attorney about it or leave it out? do the trustees run a dmv report on the vehicles you own? it didn't happen on the 13.
Over 34 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions.

the trustee does NOT run a report with the DMV. Likewise, it is bankruptcy fraud to not list all of your assets. And if you do, because of the age of the cars, teh trustee will abandon them so you having nothing to fear. But it would be very improper to transfer the title to the cars as any transfers made within 24 months of filing bankruptcy is a fraudulent transfer which the trustee can set aside and would now involve your sons. So call your attorney and he will file an amendment and that will be that. Not to worry, however.

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