personal belongings 2

[trimguy35]

this question goes back to my first question a little bit, i have a boat
that i really do not want to give up, the value is about 4 to 5 thousand,
it is really the only asset that is worth anything that i am worried about,
the title has the purchase price at zero dollars, because i traded , is that
going to be a problem keeping it exempt?, i go see my attorney for the first
time in about two hours, i am a little nervous about mentioning this, also...
are you allowed to sell stuff at a certain time frame before you actually
start the procedings?,

[Minnymouth]

Go talk to your lawyer.
You are not supposed to buy, sell, trade, or give away ANYTHING during the process of bankruptcy......DON'T ROCK THE BOAT!!!
Ask your attorney about using a "wild card" on your boat if that boat is that important to you.....

Minny

[Whittio]

Don't hide anything from your attorney. He is the best person to tell you what you can expect.

As far as assets, I know there are exemptions, but if this isn't covered under an exemption, then you'll probably have to give it up. But think of it this way, would you rather file BK and be free from ALL your debt and sacrifice your prized boat, or would you rather keep your boat and all the debt.

I think you're being a little 'selfish' about the boat. (excuse me for being so blunt).. but you owe creditors money, and a boat is a luxury, not a necessity, and boats can be replaced. I think you need to put this into perspective?? You're potentially getting out of a lot of debt you owe, if all it takes is to give the boat up, then do it?!

[freshstarter]

That's what the attorney is for...you tell them and they advise you. If you may lose the boat, might as well find out now.

[DeadBroke]

I am curious as to this as well. I also live in Ohio. Keep me updated.

[HHM]

I think Ohio has a wild card exemption, but I don't know the amount. However, the amount listed on the bill of sale or title that you purchased the boat for is irrelevant, the value of the boat is whatever you could sell it for today.

Whittio makes a fine point, we all like our stuff, but if your in a position where bankruptcy is a real option for you, somewhere your financial life lost track, and sacrifices will have to be made.

If you are going to file BK, you should do it before October 17.

[Whittio]

HHM, you said it so much better then I did. I, for the life of me, couldn't come up with a "tactful" way of putting it. I probably shouldn't have said anything, I am sorry if I offended anyone.

[DeadBroke]

Any updates trimguy35?