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  • leichenb
    started a topic HELP!! Post Petition Equity in Assets

    HELP!! Post Petition Equity in Assets

    Help... I'm against the fence in a filing DUE end of day today!! (much litigation by ex-wife in my bankruptcy) and seeking any case history or relevant case law supporting the below position.

    Debtor filed Ch. 7 (no reaffirmation on home). Funds from post-petition income provided (per...
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  • JenniG
    started a topic Gift of equity...?

    Gift of equity...?

    After looking at my situation some more (trustee wants to declare homestead non-exempt because of about 4K in debt that existed prior to purchase of home), I am wondering if there might be a different angle to approach this from. Because the home was appraised at $51,000 and my parents sold the home...
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  • JenniG
    started a topic When the homestead is NOT exempt

    When the homestead is NOT exempt

    My husband and I filed bankruptcy recently and were told by our attorney that our home would be exempt. We then had the meeting with the trustee and soon after found out that the trustee is arguing that our home is not exempt because we purchased the home in Nov 2007 and some of our debts were existing...
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  • backontrackOH
    started a topic Land Contract "Equity" and Chapter 7

    Land Contract "Equity" and Chapter 7

    I am currently the buyer in a land contract in Ohio. I made a down payment and have made several principal payments on the loan, all to the owner of the home.

    How will the 'equity' I have in the home be viewed by a trustee if I file a chapter 7 bankruptcy? Ohio has a $20,200 homestead...
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  • andyx
    started a topic Keeping Cars That Are Paid For and Needed?

    Keeping Cars That Are Paid For and Needed?

    My wife and I are going to have to file Chapter 7. Banks have foreclosed on real estate on which we owed over $1M and one of them is seeking to collect a six figure deficiency judgment. We have very few assets because we [foolishly] used our IRAs and 401Ks in a failed attempt to reach settlements on...
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  • akchrist
    started a topic Can we keep 2 cars?

    Can we keep 2 cars?

    My husband and I are filing jointly so I believe we can keep both but I want to be sure. The concern I have is that the cars are still very new and are both in my husband's name. We have a 2006 Ford Mustang that we owe about $11000 on and a 2007 Chevy HHR that we owe about $11500 on. The payments total...
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    Last edited by akchrist; 10-09-2008, 01:38 AM.
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