Posted on: 15th Jun, 2009 05:46 pm
I need to know if I can legally sell my atv or other personal posessions to pay for my living expenses. Its possible I may have to file bankruptcy 7/13 in the near future because I'm getting attacked by credit card and lines of credit collectors that I cannot pay as a result of loss of income. As long as I own my atv do I just need to sell it and have the new owner title it?
hi christiantredeon,
if you have a free and clear title to the atv, you have the right to sell it to pay for your living. you can also sell your other personal possessions. but the fact that you are going to file bankruptcy in near future may make things a little more complicated. any transfer of property 1 year prior to filing bankruptcy could be considered as an attempt to avoid paying the creditors. such transfers could be deemed as invalid. thus, if you are thinking of filing bankruptcy, consult your bankruptcy attorney before you take any such step.
if you have a free and clear title to the atv, you have the right to sell it to pay for your living. you can also sell your other personal possessions. but the fact that you are going to file bankruptcy in near future may make things a little more complicated. any transfer of property 1 year prior to filing bankruptcy could be considered as an attempt to avoid paying the creditors. such transfers could be deemed as invalid. thus, if you are thinking of filing bankruptcy, consult your bankruptcy attorney before you take any such step.
yes it will be considered as invalid so continue for another one yr