chpt 13 is a car that I co own with my son. My son is now about to file a chpt 7, how will this play out for me? I am willing to give the car back and let the bank sell it, but will the remaining balance be MY responsibility since I am filing a 13??
I would suggest that you contact your chapter 13 bankruptcy attorney immediately. If you did the filing yourself then this might be a good time to hire an experienced bankruptcy attorney to assist you as chapter 13 bankruptcy filings aren't as easy as they may seem on the surface.
Once you have contacted your bankruptcy attorney you will want to make sure that ALL of your debts are disclosed in your chapter 13 paperwork. You don't get the option of what debts you claim in a chapter 13 bankruptcy filing. You MUST list all of your debts and ALL of your assets. Not doing so is perjury, plain and simple. Your bankruptcy attorney will be able to fix your problem (probably) by amending your schedules and plan to include this asset (your son's car), and the debt associated with it.
If the car is surrendered and the debt is properly discharged, the balance due after selling the car (or deficiency) will be part of your bankruptcy and discharge. There should be an easy fix to this problem but I would definitely recommend seeking the assistance of a chapter 13 bankruptcy attorney to assure that it is done properly.
I hope that this information answers your question and that this was helpful.
Parker Evan Bornmann
The Bornmann law Group, PLLC
Contact me directly at 480-833-8000 for a free (1 Hour) consultation. I have law offices conveniently located in Mesa, Glendale, and Tucson, Arizona. You and I do not have an attorney-client relationship formed by our communications on this website. Advice given by me on this website is general advice based on partial information. You should not rely on any advice given without first hiring a lawyer in the area where the case is pending, and providing that lawyer with full information. http://www.bankruptcy-az.com
There is no choice on what debts you "claim." You are required by law, under penalty of perjury, to list all your debts and assets. If your pleadings are correct, this is not a big problem for your lawyer to review the plan and make changes. If your schedules, plan, etc. are all incorrect because you did not "claim" (or disclose) the debt and asset, your lawyer will make all the changes and it'll be a little more work. If you don't have a lawyer, you need one for the reasons discussed here and all the other errors that are probable in the case.
I agree that you need to discuss this with your bankruptcy attorney. He will likely advise you to amend your schedules and plan to deal with this asset and the associate debt.
You must contact your attorney immediately to make sure that ALL you debts are properly disclosed in your chapter 13 paperwork. If the car is surrendered and I the debt is properly disclosed in your case then any deficiency balance will be part of your discharge.
If you filed your chapter 13 without the benefit of an attorney then now would be a very good time to hire one. Chapte r13 is very complicated, and without an attorney the chance of actually getting a proposed chapter 13 plan confirmed by the court is negligible.
All your debts needed to be addressed in your Chapter 13 plan. If the plan provided for the surrender of your interest in the car then you should be covered. If this wasn't made clear in your plan but the creditor was put on notice then you might be able to modify your plan. If the debt was left out altogether then your only option to cover it might be to dismiss and refile your Chapter 13 plan (if that wouldn't be more trouble than it's worth).
You should discuss this situation with your bankruptcy attorney.
You can reach Harkess & Salter LLC at (303) 531-5380 or [email protected] Stephen Harkess is an attorney licensed in the state and federal courts of Colorado. This answer is for general information only and does not create an attorney client relationship between Stephen Harkess or Harkess & Salter LLC and any person. You should schedule a consultation with an attorney to discuss the specifics of your legal issues.
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