top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

I'M SCARED. My lawyer just told me I have to file a Chp13...

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    #16
    Originally posted by Justme79 View Post
    Yes, they are saying I have $12,000 in unprotected assets (I told the assistant they could have them, I don't care) she also said my cash value on my life insurance policy is more than $1,000... It's $1,200
    Just because you have non-exempt assets doesn't mean that you have to file Chapter 13. It just means that those assets are subject to liquidation by the Chapter 7 Trustee. You will need to decide if surrendering the non-exempt property is right for you or you'll need to do a 36-month Chapter 13 (since you're under-the-median income).

    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #17
      They can have the "assets", The legal assistant said it would be a 5yr plan... I would love for it to be a 3yr plan.

      I've read most of your posts justbroke , I'm learning so much about chp 13 from you, Thank you!

      Comment


        #18
        Originally posted by Justme79 View Post
        They can have the "assets", The legal assistant said it would be a 5yr plan... I would love for it to be a 3yr plan.
        That doesn't make any sense unless they are saying that "while you are under the median income and are only required to submit a plan for 36 months, we suggest 60 months to spread out the payments."

        If you're not concerned about the assets then just repeat that to your attorney. However should you need a Chapter 13 (to protect property and assets), then you'll need to consider the Chapter 13.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

        Comment


          #19
          The assets can go, the money that they are assuming I'll get from the accidents can go, I just want to be FREE... period. Preferably a chp 7, but I'll take the chp 3 for 3yrs

          I'm just ready to start.

          Comment

          bottom Ad Widget

          Collapse
          Working...
          X