We are both listed as the owners of the vehicle but I am not filing Chapter 7, only my husband. We would like to sell the car because of it not getting good gas mileage and some repairs are needed. How does the court work it out when I am listed also on the title?
The answer will depend largely on whether you are able to "exepmt" your interest in the vehicle. Depending upon your circumstances you may be able to protect your interest and keep the car. You need to check your state's exemptions to find out how much you qualify for and if you qualify for those exemptions.
You should consult with an attorney in your area to assist you, as there may be some additional exemptions available to you that can also apply to a vehicle.
Chapter 7 Bankruptcy Attorney
Any asset that is not protected by state laws, called exemptions, are subject to being taken & sold by a bankruptcy trustee when the owner files bankruptcy. You should review the exemptions available where you live to see what property is protected. You can find these laws on your state's website.
Please don't say that your vehicle is your "only asset" just for dramatic effect. Since you do own wearing apparel, furniture & some money in your pocket, when you say these kinds of things, you ruin any credibility you might have otherwise had.
Hope this perspective helps!
You'll need to check your state's exemption laws in regards to your vehicle. You may be able to exempt the car so that it will not be sold in your bankruptcy. I'd advise that you contact a bankruptcy attorney in your area in regards to ensuring that you have an accurate value for the vehicle and that it is properly exempted, if possible.