Jackie has a car loan in her name because she has better credit than her boyfriend, Raul, who is making the payments and drives it. The car's equity exceeds the exemption limits, but since it's really Raul's car, there's no need for Jackie to list it in the petition.

Question

Quizplus · Accepted Answer

Even though Raul is making the payments and using the car, because the loan is in Jackie's name, she legally owns the car and must list it in her bankruptcy petition, regardless of the arrangement with Raul.

Jackie Has a Car Loan in Her Name Because She