Q: I lost my job due to medical, my husband is a transplant recipient on disability. If we file cptr 7, can we gift vehicle
We have titles on vehicles that belong to our boys. Because of the loss of my job and only my husband's disability as income, we may have to file chapter 7 due to his medical bills we can no longer pay on and evidently we owe federal and Idaho taxes. The titles on the vehicles need to be signed over to my family. Can we do that and possibly file chapter 7? Thank you, Toni
A: You must list all your property in your petition. Any such transfers of vehicles would likely be fraudulent. Consult a competent bankruptcy attorney to review these issues before you do anything.
A: Yes you can. I'm sorry to hear about your circumstances! My heart goes out to you.
If you both file Chapter 7, then each of you may claim a vehicle. These vehicles can be signed over to you and you should do that before you file bankruptcy, so as to avoid the Trustee's questions about gifts. Good Luck Toni and if you need help please let me know.
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