top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

522(b)(2) or 522(b)(3) - which do I use on Schedule C?

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

    522(b)(2) or 522(b)(3) - which do I use on Schedule C?

    I put another post up, but being new to this I'm not sure if I named it well enough for others to reply. I'm trying to figure out if I should be checking 522(b)(2) or 522(b)(3) on the top of schedule C.

    I live in Nevada and Nevada law requires that we use the Nevada law, instead of the federal bankruptcy code for exemptions. What's not clear to me is if 522(b)(2) is intended to use state law? I can't easily figure out if 2 is for state & 3 is for federal or if I have them switched up. My other post was yesterday and it's called: where do I begin - schedule C questions. There's more information about where the verbiage for these laws is in that post to.

    Thanks!
    Starting_Over
    BK filed July 14, 2008
    341 scheduled for Aug 21, 2008

    #2
    You sounded desperate, so I flipped through my Nolo book on Chapter 7 filing.
    Here's what it says for the section "Debtor elects the exemptions to which debtor is entitled under law."

    "If you're using the federal exemptions, check the top box. Everybody else, check the second box."

    You're in Nevada and you can't use federal exemptions right, so you check the second box 522 b3. Repeat: check the second box.

    Good luck.

    Comment


      #3
      Thanks SO very much! I did get desperate, so I also went out & bought the book. I've spent SO much time on this & it's still not done. Really hoping to get paperwork to the court this week.
      BK filed July 14, 2008
      341 scheduled for Aug 21, 2008

      Comment

      bottom Ad Widget

      Collapse
      Working...
      X