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The Griffin Law Firm
The Griffin Law Firm, Attorney
Category: Bankruptcy Law
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Experience:  Member of NACBA and ABI
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I have three cars. All in my name. One is worth $3000.00 One

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I have three cars. All in my name. One is worth $3000.00 One is worth $5000.00 One is a dead old car in the side yard. My wife and I may file bankrupcty jointly. AZ exemption for cars is $5000.00 doubled if your married. My question is: Cars are all in my name and what about the dead one that needs a new clutch?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  The Griffin Law Firm replied 7 years ago.
It will not matter that the cars are in your name if you are filing jointly. You are correct in that 33-1125(8) gives you $5,000 each to use for a motor vehicle exemption. My understanding of the statute though is that it limits you to one car each. If you exempted the $5,000 car and the$3,000 car, but left the dead car un-exempt, the trustee in your case would evaluate what the value of that third vehicle was and whether it was worth his time and expense to try and sell it. Based on your description, there is a good chance he would abandon it and you would end up keeping the vehicle.
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