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Filing has been put off

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Valued Contributor

Filing has been put off

I’m super bummed, I planned to have filed around last month so I can be discharged by the summer, my lawyer tells me since I’m getting a large tax return ($7K) i need to spend it quickly or they’ll take it. I also have 2 other cars in my name that are paid off and being driven by family that I’ve yet to sign over to them, which she said can pose a problem as well. Because of this she’s suggested to file at the beginning of next school year. All well and good and I guess this allows me to get things in order but I wanted to finish the process. However, i now have 2 questions:

What should I do about the cars in my name? I bought them with the intent to sell and my family members have slacked on paying me back. I have received some money for one but not the other. I don’t want them back or to sell to other people, I want them out my name without breaking any rules.

I hand seen conflicting info regarding secured cards. Since it’s a secured debt, I should be able to reaffirm it correct? Well my lawyer has never heard of the process, so she told me not to get any cards, not even secured. However i plan to do some traveling and would rather have a credit card than debit. What can i do?
Amex Green| Capital One Quiksilver $21.5K| Marriott Rewards $7K| Spark Cash Select $6K| Citi Platinum Select AAdvantage $6.4K| Citi Double Cash $6K| Chase Freedom $5K| NCSECU $5K| Discover IT $2.9K| Citi Forward $2.9K|
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2 REPLIES
Frequent Contributor

Re: Filing has been put off


@icyhot wrote:
What should I do about the cars in my name? I bought them with the intent to sell and my family members have slacked on paying me back. I have received some money for one but not the other. I don’t want them back or to sell to other people, I want them out my name without breaking any rules.

If you can sell them to your family for a reasonable amount you should be fine, as long as you can document that, as well as document that the funds were not spent unreasonably. It would help to know how much the cars are worth, what has been paid so far, and what you agreed to sell them for.

 


@icyhot wrote:
I hand seen conflicting info regarding secured cards. Since it’s a secured debt, I should be able to reaffirm it correct? Well my lawyer has never heard of the process, so she told me not to get any cards, not even secured. However i plan to do some traveling and would rather have a credit card than debit. What can i do?

This is entirely up to the lender. You could always call the credit card issuer and ask for their bankruptcy department. Many credit card companies will automatically close cards, even if you had no balance. Many have in their account agreement a clause that says you're in default if you file bankruptcy. It's probably best to wait to open a new card, to be honest.

 

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Valued Contributor

Re: Filing has been put off

I have a 2003 Cadillac CTS that’s worth about $2000 in fair condition that I originally agreed to sell for $3000. Haven’t received any money for it. Also have a 2007 Pontiac G6 that I agreed to sell for $2700, worth about $3000 and have been paid $850 for so far
Amex Green| Capital One Quiksilver $21.5K| Marriott Rewards $7K| Spark Cash Select $6K| Citi Platinum Select AAdvantage $6.4K| Citi Double Cash $6K| Chase Freedom $5K| NCSECU $5K| Discover IT $2.9K| Citi Forward $2.9K|
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