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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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Post subject: |
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Hi onion,
If you file Chapter 7 bankruptcy, then you will have to list all your assets and the trustee would decide whether or not your assets would be sold to pay off the loan.
Thanks |
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Phil
Guest
0.10 Dollars($)
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Post subject: equity of cars |
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I have a home that is upside down by 250,000, but I own 2-cars with 20,000 in equity; in California some attorney's told me the cars are exempt
because I am allowed 23,000, is this true or false? |
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0.10 Dollars($)
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| Well, as far as my knowledge, the exemption amount for motor vehicles in California is $2775. You need to check the details with your bankruptcy attorney and take the right decision. |
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broadwayjoe
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0.10 Dollars($)
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Post subject: bankrptacy |
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If i have a gross income of $91,600 - $66,000 and a debt of $99,000
what kind of repayment plan would be possible under chapeter 13
Household expenses run $5500 monthly....
Rent do not own & have two personal autos...
Live in Queens - New York City |
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0.10 Dollars($)
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Hi broadwayjoe!
Welcome to forums!
It would be your lender and the court which would decide upon the payment plan that would be given to you in order to pay off the dues to your lender.
Feel free to ask if you've further queries.
Sussane
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant |
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smithsussane
Joined: 18 Sep 2008
Posts: 3709
Location: Alaska
556.69 Dollars($)
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Post subject: |
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| It was me above.... Just forgot to login. |
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mghelp
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0.10 Dollars($)
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Post subject: Bankruptcy question |
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| Hello, I have a question about bankruptcy. Our trailor and land is paid off so if we declare bankruptcy will they take our trailor and land? Also will they look into our bank account? |
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adonis
Joined: 22 Oct 2005
Posts: 3852
Location: ALASKA
120.89 Dollars($)
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Hi mghelp,
What chapter of bankruptcy are you filing? If you're filing Chapter 7, then you will have to list all your assets. This includes your savings account as well as your free and clear property. The trustee will let you know whether or not they would be sold off to pay your creditors.
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Procrastination is the enemy of your financial sucess |
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