WSFL-TV Trusted Advisor, Chad Van Horn of Van Horn Law Group, joined Inside South Florida to share the effects of a bare legal title when filing for bankruptcy.
“The bare legal title argument is when the title is in your name, but it's not yours. You buy the car in your name and give it to your friend to use and pay the insurance and car payments,” says Van Horn. “If you haven't made any payments or maintained the asset, it's a bear legal title and you can keep it out of bankruptcy.”
For more information, visit vanhornlawgroup.com
This Inside South Florida segment is paid for by Van Horn Law Group.