Read the manual still have questions...

[PhxGuy520]

[anonymuse]

For most services, you would find out by word of mouth to see who people recommend. However, with BK, you're part of a very large club that no one talks about.

Your best bet is to schedule consultations with three attorneys (they're free) and judge from that. You may have to resort to the yellow pages for this. If you don't have a strong feeling towards anyone of them, then keep scheduling more consults. You might also want to look to see which attorneys are also trustees and see if any of them are taking cases. http://www.usdoj.gov/ust/

[Minnymouth]

Okay,
If you don't live in a "commonlaw state" then you will have to file bankruptcy separately as individuals I believe....
Do you also have cc debit, judgements against you or is it just her???

Now, the truck..... you said it is in her name??? And you have a contract with family members to pay for it, right!!!

Okay check the title on the truck..... if their is no lien listed on the title, she owns that truck free and clear...... and NOW ITS AN ASSET TO HER......

Her past creditors that have judgements can take a lien against the truck until she pays them.....

You definitely need to consulte with at least 2 attorneys before you do anything and be sure to check the title on that truck...............

Minny

[SinkingFast]

Depends on if the loan against the truck shows on the title or not. Check the title, like Minny said.

If the title to the truck is in her name, and the loan does not show on the title, you may wind up loosing the truck, or having to buy it back from the Court, if she files BK. The vehicle exemption in your state is $1500/$4K if disabled.

You say you think the truck is worth $9K. The Trustee won't get $9K out of it selling it. The Trustee has to pay a Service to sell the truck for them. They don't get top dollar because they quick sale. And, the Trustee has to give the BK Filer their exemption allowance right off the top. So very often, instead of siezing property, the Trustee deals with debtors on an agreed upon settlement for the property.

Just as an example,.......... A $9K vehicle sells quick for $6500. The Trustee pays their service a 10% fee for selling the vehicle. You're already down to below $6K for a vehicle worth $9K to start. Then the Trustee has to pay your GF her $1500 allowance. So now the Trustee is netting about $4500 for a vehicle worth $9K. So the Trustee deals and says, "You can buy the truck back from the Court for $3K." That happens all the time.

To find an attny, maybe find out where the 341 Meeting is held and when. Then go there on 341 Meeting Day. If you can, get into a Courtroom and watch the cases. Get the names of attnys who are at ease with the Judge and Trustees. Who know their clients and cases. Who are prepared with all their docs. Set up Consult appts with attnys and meet them face to face. You'll get a feel for who you like and who you don't.

[PhxGuy520]

That is great information. Thanks to everyone for the replies.

[PhxGuy520]

Depends on if the loan against the truck shows on the title or not. Check the title, like Minny said.

If the title to the truck is in her name, and the loan does not show on the title, you may wind up loosing the truck, or having to buy it back from the Court, if she files BK. The vehicle exemption in your state is $1500/$4K if disabled.

You say you think the truck is worth $9K. The Trustee won't get $9K out of it selling it. The Trustee has to pay a Service to sell the truck for them. They don't get top dollar because they quick sale. And, the Trustee has to give the BK Filer their exemption allowance right off the top. So very often, instead of siezing property, the Trustee deals with debtors on an agreed upon settlement for the property.

Just as an example,.......... A $9K vehicle sells quick for $6500. The Trustee pays their service a 10% fee for selling the vehicle. You're already down to below $6K for a vehicle worth $9K to start. Then the Trustee has to pay your GF her $1500 allowance. So now the Trustee is netting about $4500 for a vehicle worth $9K. So the Trustee deals and says, "You can buy the truck back from the Court for $3K." That happens all the time.

To find an attny, maybe find out where the 341 Meeting is held and when. Then go there on 341 Meeting Day. If you can, get into a Courtroom and watch the cases. Get the names of attnys who are at ease with the Judge and Trustees. Who know their clients and cases. Who are prepared with all their docs. Set up Consult appts with attnys and meet them face to face. You'll get a feel for who you like and who you don't.

Where do you get your information on exemptions? Everyone who responded kept telling me it was 1500, but when I do a google search I am seeing 5k for Arizona. If that is the case then I am thinking there would be a decent chance they would not come after it by using your example above since it appears they would lose money.

[anonymuse]

Here is the official site for the US BK Court for Arizona:

http://www.azb.uscourts.gov/

And here is the booklet from that site for the Arizona Exemptions in PDF form:

http://www.azb.uscourts.gov/azb/documents.nsf/e610f75d1bf0fdfc88256a1c0000a6b3/5d82bcbf8fda4a080725702a0066c3e1/$FILE/Arizona%20Exemptions.pdf

One car with a fair market value not to exceed $5,000. If
debtor is physically disabled, the fair market value of the
motor vehicle shall not exceed $10,000.

[SinkingFast]

Great link, Anon!

I'd seen on a couple of websites that auto was $5K/$10K if disabled. But couldn't find the exemptions in the Arizona Statutes to confirm that.

Evidently Arizona updated their exemptions last year.