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I filed chapter 7 bk in indiana pro se. Do I have to use a different exemption for an auto than the one for personal property?

Demotte, IN |

I listed my auto on schedule c in indiana as personal property claimed exempt along with jewelry. The code I used has a limit of 9,350. My total is 10,500. It is repeatedly being objected to by my trustee. Should I use a different code for the auto? Can someone pleeeease tell me which indiana codes and limits to use? I tried the wild card but the limit is 9350. Which code do i use if i can include the auto as personal property and the amount is over 9350? I am stumped and cannot get any advise because i filed pro se. I believe I have submitted every different code possible with no luck.

Attorney Answers 3


  1. If you have $10,500 worth of assets and only $9,350 to exempt it, then you are going to lose $1150 worth of assets.

    The question calls for actual legal advice specific to your situation (which statute to use to protect your assets), so it is not information you can get on a forum like this either.

    I would recommend you hire an experienced bankruptcy attorney to enter an appearance in the case and see if they can help you save your car.

    This is exactly the horror story that shows that bankruptcy is about much more than filling out forms. You can easily make the problem much worse and lose more in assets than it would have cost to hire an attorney when you file pro se.

    Attorney Jay Perez is a Managing Attorney with Macey Bankruptcy Law / Jacoby & Meyers-Bankruptcy, LLP, a national consumer bankruptcy law firm. His firm can be reached at 888-743-5787 or www.JacobyMeyersBankruptcy.com. Attorney Perez manages offices in Indianapolis, Merrillville, South Bend, Elkhart, Fort Wayne, and Lafayette Indiana. Attorney Perez is licensed to practice before the Supreme Court of Indiana, Federal District Court for the Northern District of Indiana, and the Federal District Court for the Southern District of Indiana. The private law firm of Macey Bankruptcy Law / Jacoby & Meyers-Bankruptcy, LLP is a debt relief agency helping people to file for bankruptcy relief under the bankruptcy code.


  2. This is why you use an attorney. If the Trustee does his job your asset would be sold to pay the creditors for your failure to exempt this properly. The 1150 could have paid an attorney to do it properly. The attorney would have known the limit was 9350 and would have prepared the petition differently. Now that it has been done incorrectly there is not much you can do about it other than write a check to the trustee. I understand we attorneys don't like working for free just like you don't but I have seen a lot lost because you don't have our knowledge.

    DISCLAIMER: This message is intended as a general discussion of legal issues and not as a statement of fact, legal advice or a legal opinion. No attorney-client relationship is created by this message. Do not act or rely upon law-related information in this communication without seeking the advice of an attorney licensed to practice in the relevant area. I am a Federally Designated Debt Relief Agency under the United States Bankruptcy Code. I proudly help people in financial need file bankruptcy cases. IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).


  3. I am posting a link to a general description of the exemptions available in all 50 states for you to review. It is unfortunate that you didn't take a look at these laws before you filed so that you would have been aware of the limitations provided by the laws in your state. Hope this perspective helps!

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