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dylatess
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5156
Experience:  37 plus years of experience specializing in bankruptcy law
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I am currently in a Chapter 13 bankruptcy, I have more than

Customer Question

I am currently in a Chapter 13 bankruptcy, I have more than one vehicle in my name. There are three adults in my home. My work vehicle is on it's last leg. I was told by the Car Dealer that you can only have one vehicle in your name at a time in a Chapter 13 so it's not an option to get another vehicle. Is that the case or can the trustee make a call on this?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  dylatess replied 4 years ago.
Over 34 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions. What you were told is not correct. Note, to qualify for a chapter 13, you must have the income to support your payment to the court. Likewise, you are allowed exemptions which protect your property. And in the state of Michigan, you are allowed to maintain any combination of assets (personal property) so long as the total dollar value of the assets does not exceed $18000. Therefore you can have more than one car so long as the total values of the cars do not exceed $18000 along with your other property. Finally, the trustee only cares about equity in the cars. So if you have three cars, and you are paying on all three, you probably have no equity and therefore it does not count towards the $18000 limit. I wish you well.

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