California  |  Bankruptcy

Legal Question

Asked on: 5/16/13, 8:33 pm

if i file bankruptcy and I have a car, my daughter has a car and my other daughter has one leased and their all in my name. How would this affect us

1 Answer

Answered on: 5/16/13, 11:10 pm by Todd Mannis

Well, for purposes of the Bankruptcy Court, they're all yours. So now its just a question of equity, if there is any. If there is, how much? If it's too much, you might not be able to keep them;, if not very much, or none at all, you're probably just fine. The leased car isn't an issue; you have no ownership interest in that car, due to the nature of a lease.

By the way, assuming the equity is not a problem, you (or somebody) obviously must keep the payments up on those cars; or, to quote an old bankruptcy attorney, nobody should ever confuse the Bankruptcy Court with Santa's Village. Keep the car payments up if you want to keep them!

Todd Mannis, Esq.

Law Offices of Joseph A. Mannis

Tel: (818) 591-9890


Did you find this answer helpful?

0 Users found this answer helpful.

0 Attorneys agree with this answer.

Law Offices of Joseph A. Mannis 4764 Park Granada, Suite 206 Calabasas, CA 91302

Other answers from this attorney

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

70 Answers given in the last few hours.

86611 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search