Weetie, I moved your post here to its own thread. It's going to get lost at the end of that long sticky you originally posted to. This way you'll get more attention and hopefully more replies. -lrprn
The homestead exemption in Minnesota states, "A home and the land it is situated on up to $300,000 ($750,000 if used primarily for agriculture), but can not exceed 1/2 acre in a city or 160 acres elsewhere. Manufactured homes up to an unlimited value." http://www.thebankruptcysite.org/exe...minnesota.html
If the current market value of your home and land are less than $300,000 (or less than $750,000 if you are farming) *AND* your mortgage payments are up to date on filing day, then your house should be safe.
The MN auto exemption protects up to $4,200 of equity. Your truck's value of $3100 should be ok (although you should have this and your house situation after filing confirmed during your 3-4 free intiial consultations with bk lawyers in your area).
Retirement accounts are completely protected in bankruptcy. Please DO NOT take any money out of yours before you file!
Originally posted by weetie
If the current market value of your home and land are less than $300,000 (or less than $750,000 if you are farming) *AND* your mortgage payments are up to date on filing day, then your house should be safe.
The MN auto exemption protects up to $4,200 of equity. Your truck's value of $3100 should be ok (although you should have this and your house situation after filing confirmed during your 3-4 free intiial consultations with bk lawyers in your area).
Retirement accounts are completely protected in bankruptcy. Please DO NOT take any money out of yours before you file!