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pro Se how to claim wildcard exemption

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    pro Se how to claim wildcard exemption

    filing pro se chapter 7 have exemption forum but not seeing any place to list them as Wild Card . Is a special form needed or is it just a verbal request at hearing ? Thank you for your time and help in advance

    #2
    There's nothing special about a wildcard. It's treated like any other exemption. You just claim the section of law that allows you to claim that exemption. That's all. Be aware that the Trustee will run the numbers and make sure that you a.) are allowed to claim the wildcard, b.) can claim it for the type of property (money, home, car, clothing, household goods, etc) as restricted (or not) by your State or the federal bankruptcy exemption scheme(s) that you are using, and c.) that you didn't claim more exemption than exists.

    Welcome to BKForum.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #3
      Thank you for the reply , but still not following how to claim it ? do I just tell trustee at hearing or is another exemption form required in addition to 106C ? Also am also claiming a 73 Oldsmobile I paid 600 3 years ago for and claiming value at 1500 as I have made improvements but it is also not running now as it needs new water pump and radiator but fear it will be v viewed as some barren Jackson beauty on paper when its far from it . Thank you again for your time and help .

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        #4
        I'm going to assume that you filed Pro Se and that you don't know how to complete the forms. When you filed, you should have marked your property on Schedule A or B, and then exempted it on Schedule C. If this is all Greek to you, I really do want you to get a guidebook such as Nolo's Guide to Filing Bankrutpcy (and specifically for Chapter 7).

        The guidebook will tell you exactly where to claim the exemption, but probably won't tell you which exemption to claim. I can't tell you which exact exemption to claim because a.) I don't know anything about Tennessee's exemption scheme, b.) I don't know if a Tennessean can opt to use the Federal exemptions, c.) that's a legal question, and d.) I don't want to tell you the wrong thing and you lose property.

        I can tell you what I said above. You claim non-real property on Schedule B. You then make your claims of exemption on Schedule C. I can also say that whatever you put as the value on B and the exemption on C, you will invite scrutiny from the Chapter 7 Trustee.

        And yes, as soon as you say it's a "classic" vehicle, it will likely invite the Trustee to have it appraised. I'm relatively certain that they'll ask "how did you come up with that value" to make sure it's not your guess. If you guessed (even if you used a guidebook), they'll probably go check themselves or have a formal appraisal of value.




        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

        Comment


          #5
          Any formal appraisal of my vehicle am not worried about lift hood its clear there is no water pump or radiator and body has significant damage its not a show car . Title shows I paid 600 cash for it and purchased from stranger everything is on up and up .
          You are right I do not know what I am doing , just teaching myself more as a hobby / skill than to save money .
          I will reread the state guidebook to be sure but all I recall is it defined wild card but not where or how to claim it but I will double check .

          I am putting all property on B onto my C exemption form same values and all . Have nothing to hide doing everything razor straight .

          on my C form it ask which exemptions am I claiming federal non bankruptcy 11 usc S 522 (b) 3
          or
          federal 11 usc S522 (b) 2 .

          then ask for if using homestead which I am not .
          I rent. studio apartment and own less than 10k in items I am exempting . I make less than 40 k a year and was unemployed most of 2021 which is when I sold majorit of possessions to stay afloat . May try stoping by the filing center and seeing if I can ask the ladies there for any pointers on wildcard forms .

          Thank you for your advice and input .

          Comment


            #6
            It seems that you're moving along. Please know that you can claim more than one section of law as an exemption... if it applies. This is especially true when you have an specific exemption (such as an automobile exemption) that doesn't cover the entire vehicle. It is possible, in that case, that you could apply the wildcard to cover the exposed value. But, that depends on the statute and how it allow the exceptions to be applied.

            It reads to me that you opted to use the Federal exemptions rather than the TN exemptions. Please know that you can't mix-and-match, so you select one or the other. (I checked, yes TN can select either the Federal or the TN exemption scheme... we can't do that in Florida.)
            Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
            Status: (Auto) Discharged and Closed! 5/10
            Visit My BKForum Blog: justbroke's Blog

            Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

            Comment


              #7
              thank you for the insight gives me a new direction to explore and verify . I understand you can not give legal advice and am reading between your lines . Thank you very much .

              Comment

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