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    #1

    Help with some questions

    I met with a lawyer Saturday to see about filling BK he said I was a good canidate for chap.7 I have to go see him again Tuesday to talk some more and to get started filling. I have a few questions before I go back and see him. I have a small business which has been operating for 3 years it never really done well, In May I sold a boat I had (89 Rinker with a bad engine) for $500 to my roommate, I also sold to my Dad a 94 Ranger (bad transmission) for $500, and I sold my Mountaineer in June for $1500 (170,000 miles) also to my roommate, I sold a 96 neon in January for $500 to someone that saw the for sale sign. The neon and the ranger I use to use for the company but I didn't need them any more and I needed the money so I sold them. Will this look like I'm hidding assests because they want to know if I have sold any property in the last year. Also I have a jointchecking account with my grandmother so I can pay her nursing home bill every month out of her social security ck and she gets about $60 a month to spend on herself, can they take this money? she never has more than a couple of dollars in it? I also have a joint checking account with my roomate he wants to remove me from it Monday. Is this a good idea or not?

    Thanks any help would be nice.
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    #2
    If you sold the items for market value, you shouldn't have issues. If you sold them well under, the trustee might question the transactions as you had several of them. Just my opinion! If there is anything you have to document what happened, have it on hand for your 341. For example, something showing the repair work needed on items. (As that obviously would decrease value.)

    Regarding your grandmother's account, just be prepared to show that the $$ coming in to it is her SS money, which will indicate it doesn't belong to you. Its not unusual to be on someeone else's account for 'just in case'. As a teenager, I was on my mom's because my dad for some odd reason refused to be on it, and she was always afraid that if something happened to her, we wouldn't be able to access her account.
    Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.

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      #3
      I think everything was sold for market value, My grandmothers bank statement show the only deposits was from social security. now what about being removed from my roomates banking account he wants to do this this afternnon is it a good idea or not, he doesn't have alot of money in it. thanks for the help

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        #4
        bump i need help thanks

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