Ok, here is my situation. My wife and I have been in business for ourselves since 1986. We run 3 separate retail businesses.
We grew one of the businesses into a 6-store chain that was very successful for many years but no longer. In the last few years we were forced to close 5 of the
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Need advise - Lots of Secured and Unsecured Debt
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My name on my parent's accounts
My parents have their estate in a trust. But they have 2 checking accounts that have about $30,000 in the two accounts. This is money that my parents use for day to day expenses. My name is on these accounts as a signer. I have paid my parents bill a few years ago when they traveled and they kept my... -
Statement of Affairs: income from selling assets
The 2nd question on form 7 asks about non-wages income. How do I deal with this with assets I sold?
Do I put the sale price regardless of the asset's value? Do I put the net profit if the asset appreciated since I bought it? Or what? I'm thinking the safe thing is to go with whatever... -
Using Excel
One thing that I found very helpful for filling in schedules B and C was putting a whole inventory of our assets into a spreadsheet and adding columns for (a) which line number it fits for schedule B and (b) which law I'll exempt it under. Then, sorting the rows different ways and adding subtotals gave... -
Help With Chp 7 and business assests
Okay I have learned from reading this forum to give as much details as possible when asking a question.
My wife and I are looking to file for either a 7 or a 13. She makes $42,500 and I am self employeed with a lawn and landscaping business. Right now we, my business partner and I, are paying... -
Medical Van exemption
We are considering BK and meet the requirements for our state. My youngest child is severely disabled and I understand her medical equipment is exempt from counting towards our assets. The one item that is unclear is our medical van. It is worth around $25k. Will this be considered an "asset"... -
PayPal account and Chapter 7
I'm new to this forum and am about to file Chapter 7 (in a few days). I am self-employed and last week a client asked if they could pay me via PayPal. I didn't have a PayPal account, but set one up for this client. Now I have about $5,000 sitting in this account. On my lawyers advice, I haven't... -
Question about Cash
Not sure what to do...we don't want to commit fraud. Here is the situation.
Husband will be filing chapter 7 with 50K in cc debt. I'm not filing. My income is down about $60K over last year (realtor). I have one commission check for $20K.
We've already refinanced...