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    Wildcard?

    "the debtor's interest in any property, not to exceed $1,000 in value, plus up to $7,000 of any unused amount of the exemption provided under paragraphs III, VI, VIII, IX, XVI, and XVII of section 511:2. "

    I read this paragraph as a type of wildcard for me here is why. NH does not list a wild card in name.

    511:2 III is $3500 for furitture. All my furniture may be $700. So the way I read it I have a $2800 "wildcard" exemption from this one item to use on anything I choose.

    I also have a $1000 exemption to use on any property I choose.

    Do you agree?

    #2
    This requires a specific legal interpretation from an experienced bankruptcy lawyer in New Hampshire. If you haven't done so already, you need to make appointments for free initial consultations with 3-4 experienced NH bk lawyers in your area. This is a great question along with some of the others you've posted the last few days to put on your question list to ask during the interviews.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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      #3
      Thanks for the input!!

      I have spoken with 1 Lawyer already. Wont be hiring him.

      We go for our second Lawyer on Monday. In the meantime I have been reading and trying to educate myself. I am certainly happy I found this site.

      Comment


        #4
        Yes the $1000 can be used on anything one has interest in. The $7000 not used from the other listed exemptions from the named pargraphs may be used on any property that one has an interest in.

        So it is a "wildcard" exemption.

        Comment


          #5
          8000 total, with catagory limits

          Yes. It looks like the "leftover" amounts from each catagory can be applied freely, but toward things that aren't already specified.

          So, technically you'll only have $1000 that you may use on ANYTHING (wildcard). The other $7000 is limited catagorically. As you mentioned, only $3500 OF IT can be used for furniture, X for jewelry, etc. Anything outside of those catagories is just fine.

          So yes, you'll have $1000 of wildcard exemptions. The other 7000 can be used for anything as well, just up to specified amounts.

          GOOD LUCK!

          WINGNUT
          I AM NOT A LAWYER. I DON'T EVEN PLAY ONE ON TELEVISION. ONLY LAWYERS CAN GIVE YOU LEGAL ADVICE. ETC., ETC!

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