Comments on: How to Value Your Vehicle for Bankruptcy Purposes http://www.thebklawyer.com/thebkblog/2007/04/30/how-to-value-your-vehicle-for-bankruptcy-purposes/ Personal Bankruptcy tips and tricks moderated by Atlanta lawyer Jonathan Ginsberg Sat, 30 Jan 2010 16:02:17 +0000 hourly 1 By: Caney http://www.thebklawyer.com/thebkblog/2007/04/30/how-to-value-your-vehicle-for-bankruptcy-purposes/#comment-8766 Caney Thu, 06 Mar 2008 06:04:53 +0000 http://host.jonathanginsberg.com/~thebklaw/thebkblog/?p=126#comment-8766 <p>I have two friend's cars in my name because when they each got there income tax refunds this year they both purchased vehicles from private owners, but both had issues and/or no drivers license at the time they purchased so they could not title the vehicles in their own name. i am doing this favor for just a month or two until they finish paying off their fines and reinstatment fees or whatever. but i am planning to file bankruptcy and my attorney is telling me this is going to be a problem if i transfer their vehicles out of my name to someone else to prevent the trustee from trying to take my friends' cars. but the truth is these cars really do not belong to me so what should i do in this situation. should i wait until 3 or 4 months after transfering titles or will it still be a problem or what can they really do to me if i transfer titles this week and file bankruptcy next week? i need to hurry up and file because on of my creditors wants to garnish my wages for $5K and i can not afford that.</p> <p>please help</p> I have two friend's cars in my name because when they each got there income tax refunds this year they both purchased vehicles from private owners, but both had issues and/or no drivers license at the time they purchased so they could not title the vehicles in their own name. i am doing this favor for just a month or two until they finish paying off their fines and reinstatment fees or whatever. but i am planning to file bankruptcy and my attorney is telling me this is going to be a problem if i transfer their vehicles out of my name to someone else to prevent the trustee from trying to take my friends' cars. but the truth is these cars really do not belong to me so what should i do in this situation. should i wait until 3 or 4 months after transfering titles or will it still be a problem or what can they really do to me if i transfer titles this week and file bankruptcy next week? i need to hurry up and file because on of my creditors wants to garnish my wages for $5K and i can not afford that.

please help

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