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    #31
    I live in Miami, they did not send anyone to my house, but I literally do not have anything of value, everything is old and cheap except for a plasma tv, which I listed.
    Filed Chap. 7 1/11/09
    341 2/14/09; later declared asset case
    Discharged 5/18/09
    Asset case - still no payment plan proposed

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      #32
      Thanks! My Atty suggested I have the Appraiser come out prior to filing the 7 at my expense. He said it would save time and indicate if we should give up Homestead exemption and get the $10K exemption. Great, save my personal property with no place to put it. What a mess.

      Thank you for your input. Really appreciate it!!

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        #33
        I am a resident of California. I am using an attorney but have not posed the question to her yet and I have not filed the petition yet but I am close to it. In any case, I am expecting a check for about 15k as a result of closing my business in 2008. The last installment will be sent to me in Nov 1 2009. If I file a petition today, would the trustee have the ability to take the money or if I filed late November would I be able to keep the check provided it is spent before I file? Please provide your experiences.

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          #34

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            #35
            Originally posted by tsharpe1992 View Post
            I am a resident of California. I am using an attorney but have not posed the question to her yet and I have not filed the petition yet but I am close to it. In any case, I am expecting a check for about 15k as a result of closing my business in 2008. The last installment will be sent to me in Nov 1 2009. If I file a petition today, would the trustee have the ability to take the money or if I filed late November would I be able to keep the check provided it is spent before I file? Please provide your experiences.
            Yes, reason being, your right to receive that check already exists. So, your best option is to get the check BEFORE you file the case and spend it so you get the benefit of it.

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              #36
              Non exempt jointly held land

              Hi

              I am thinking of declaring ch7 if I can qualify. My wife isn't going to file.
              We own a house Tenants by entirety and I have a 500K Homestead as well so I am not concerned about that. But we also own what is basically a non buildable wood lot assessed at about $25K through a trust where my wife is trustee and we both are beneficiaries. We pay minimal taxes on it and just haven't tried to sell it. It's not easy to sell anyway.

              So my question is, can the trustee make my wife sell the land to realize my 50% of the sale or would the trustee allow my wife to buy out my 50% and if so would I need an appraisal or would the town assessor's valuation be enough (it should be, they generally assess high as values are still falling)

              Thanks (oh btw this is in Southern MA)

              Bill
              Last edited by billf; 07-27-2009, 07:14 AM.

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                #37
                As a California resident, is the individual retirement account counted in the exemptions?

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                  #38
                  If I am currently a resident of California but will be losing my home and may be moving to Texas as a result, can I still file bankruptcy in California even if I moved to Texas?

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                    #39
                    I have an IRA that I contribute to on my on account; it's not through a job. Would this amount be subtracted from the total amount alloted from a my wildcard exemption in California? I understand that the wildcard exemption for a husband and spouse is $25,000if I am not taking the homestead route. Who can shed light on this?

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                      #40
                      I'm in GA. Crying my eyes out and not sleeping. Not thinking clearly. I think my world is coming to an end. My H is self-employed subcontractor. Needs his tools and work truck to work. Saw attorney in May, qualified for Ch. 7, then changed his mind. Now he's ready to file Ch. 7. I will give up land we can't use, even the house...but I need my 3 (1 for each fam. member) unreg. horses and in order to ride, need my trailer (probably not worth much) and truck to pull it (worth about 12k; owe 6k) I do not understand about exemptions and wild cards. Will take time to get back to atty to ask these questions. I've posted in another thread, but I'm still confused. I just need some sort of answers so I can sleep. The most valuable thing is the truck. Will they take it?

                      Do they take computers?

                      Bottom line: what DO they take??? I've read till my eyes are blurry and still don't get it.

                      Apologizing in advance for my multiple confusions and asking questions that are probably answered SOMEwhere on here.
                      Last edited by Inthestorm; 08-10-2009, 11:58 PM. Reason: Addition

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                        #41
                        GA Exemptions

                        Inthestorm,
                        I hope you've received some answers to your concerns but here is a copy of GA exemptons from

                        http://www.************************/...es-in-georgia/

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                          #42
                          Thank you for the information...but I'm dense and I just don't understand it. One of the "myths about bankruptcy" says no, you don't have to get rid of everything, but it certainly sounds like you do!!!

                          My husband met with the lawyer in May and I was unable to go. My husband has the impression that this is going to be a piece of cake and we'll get to keep the house and my truck and his work vehicle...yet people here are telling me I have too much equity in the truck and might have to buy it back from the trustee. I tell my husband this and it causes a fight! I can't march into the lawyers office for an answer until he calls us back and who knows how long that will take!!! He was very highly recommended by a friend...but I wonder if he's sugar-coating just to get our money!? He seems pretty busy, though...

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                            #43
                            Have you hired the lawyer yet? If not, go see another lawyer for a free consult and ask him your questions. Have you consulted with several lawyers to make sure that this is the one you want?
                            1/15/10 Filed ch7 2/18/10 314 meeting
                            2/22/10 Report of No Distribution
                            4/20/10 Discharged 5/20/10 Closed!

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                              #44
                              Much thanks for all the support and information I receive on this forum.............

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                                #45
                                My husband and I went to a large firm back in April or May. We were NOT impressed. We then got a recommendation from a friend and my husband went to see him, but I couldn't get off work. This was a HUGE mistake! I NEEDED to ask my questions to calm my fears. My husband is telling me he really, really liked this guy, that he explained much more than he can remember (two heads are better than one,) and that he didn't see any problem with us being able to keep the things we want to keep. According to the GA exemptions, I can't see how this is possible, unless he knows something we don't or my husband totally misunderstood, which isn't like him. We DO want to work with him, he's just hard to get a hold of initially. We are currently leaving messages. My friend is very surprised that he isn't calling back pronto, but she Bk'd before the economy fell, so I'm sure he's far more busy now than ever.

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