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jbyrn15 · Joined: 10 Jun 2010 Posts: 1 1.32 Dollars($)

We live in Ohio and are thinking about chapter 7 due to credit cards. We are trying to sell our home payments are current and car payment is current. So my first question is will we loose our home equity is maybe $10,000 also my fiances retirement plan through work would the court take that from him and my minor daughter has a savings account at a local credit union and my name in on it as a signer and that is it she has a large amount in there. Would the courts take that from her

smithsussane · Posted: Thu Jun 10, 2010 8:10 pm Post subject:

Hi jbyrn!

Welcome to forums!

Retirement accounts cannot be garnished by the trustee when you file bankruptcy. However, you will have to list all your assets while filing Chapter 7. Your other free and clear assets can be taken into consideration and sold off to pay your creditors.

As your name is on the savings account of your minor daughter, it can be taken into consideration by the trustee. It will be better if you could contact your bankruptcy attorney and take his opinion in this matter.

Feel free to ask if you've further queries.

Sussane

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