Texarkana, TX Bankruptcy Law Firms & Lawyers

Depending on the type of debt (Secured, priority secured or general unsecured), you amend Schedule D, E or F respectively. You will also need to amend the Master Creditor list.

You should consult with a bankruptcy attorney about the specific facts of your situation to get the most accurate advice. Putting the car in your parents' name at any time close to filing your bankruptcy may raise a red flag. It will look like a preferential transfer which the trustee can reverse. It looks like an attempt to hide assets. Instead, depending on how much you owe on the car, its value, and the rest of your assets, the car may be exempted from your bankruptcy estate. In other words, it may be property which is not considered available for use to settle your debts and you won't have to worry about losing it. Again, the best way to determine how this should play out is to consult a bankruptcy attorney.

These are weighty decisions which cannot be made by email advice. You would benefit most from consulting a lawyer who practices both family law and bankruptcy and there are a fair number of them around Wisconsin.