Legal Question in Bankruptcy in Minnesota

I am about to file Ch. 7 bankruptcy and need to buy a car. I will do so without a loan, the money will be gifted to me. Will I get to keep it? I need reliable transportation because I drive 80 miles per day for work and this car will be my sole vehicle.

I live in MN. The motor vehicle exemption looks to be $4400. I have no car right now. I'm going to bay cash ($5000) for a car that blue books at $7000 retail. A good move, but not if I will get it taken away. I will consult an attorney, but wonder if anyone out there knows. Thanks


Asked on 12/06/10, 9:15 am

1 Answer from Attorneys
David Kelly-952-544-6356 Kelly Law Office

Complicated question that I don't think I can answer based on the limited information provided.

Only reason I'm saying anything at all is that I have the impression that you may be filing without the help of a lawyer. I would assume that if you had a lawyer, he or she would answer this question.

All I wanted to say here is that if you are planning on doing this without a lawyer, that could be a terrible mistake. I've sat in the back of the hearing room on several occasions and watched pro se debtors get taken to the cleaners unnecessarily.

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Answered on 12/11/10, 1:12 pm


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