Fletcher, NC asked in Consumer Law and Collections for North Carolina

Q: Name of the Motion to substitute one exempt vehicle for a used vehicle purchased due to change in circumstances?

Owe about $80K in card debt, 6/2020 judgment-11/18/2022 writ execu against husband only-Amer Exp Ntl Bank; (cards mostly charged by me--bipolar/manic). We rec'd Not 2 Claim Exemp which was completed & filed w/ atty help. About $10K in bank which inc bill $. Live in NC, own home-both names on mtg & 2 vehicles JTWROS. 1 exempt vehic died a few weeks ago (trans issue). Purchased 2002 LeSabre, 170K miles- $2k 10/31/2022, JTWROS + $900 4 repairs. High end KBB FMV $2900, husband has 1/2 int. + 2000 Honda 1/2 int. Neither car = $3.5K exemp. Husb 1/2 int in furnishings approx $3800. No longer have bkrcy atty due to not going 2 file bkrcy; much equity-home worth about $350K; $201K mtg; can't afford re-finance payment w/so much debt; no Chap 7/Chap 13 or home sale wanted. Working w/Sheriff; made $3K offer on $8900 writ. Don't have much more to offer Amex. Want to sell 1992 broken vehicle 4 scrap & give to Amex also. Maybe $400-$500 when sold. Best options now? Can't afford atty now.

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1 Lawyer Answer
Lynn Ellen Coleman
Lynn Ellen Coleman
  • Licensed in North Carolina

A: The recent car you purchased is NOT exempt. Property purchased within last 90 days is NEVER exempt, whether bankruptcy or non bankruptcy. You cannot substitute this vehicle for the one that died. Consider having antother consultation with an attorney for a second opinion ASAP. You can keep everything with a Chapter 13 most likely IF you can afford the Ch 13 payment. Otherwise, you have to cut the best deal you can with the Sheriff and the creditor (which also unfortunately may not be as affordable as you would like) to avoid losing the car.

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