Re: Why Chat - I'm confused - My lawyer said that if I file BK...

Posted by Taziblue (68.130.210.7) on December 10, 2003 at 11:15:41:

In Reply to: Why Chat - I'm confused - My lawyer said that if I file BK... posted by Sandra on December 09, 2003 at 23:45:06:

I'm not an expert on this, but this is correct. When you file bankruptcy, you surrender your assets (except for the non exempt) to the court for distribution to your creditors. This includes any lawsuits you may have- with some exceptions.

Generally, the court will look back either 6 months or 12 months and look at your financial transactions.

There is a link for information on Why Chats website. Also go to www.nolo.com for some general information.

You might want to check out some self help bankrupty books from the library so you can better understand the process. I am not suggesting you do it yourself- there are lots of pitfalls for the self represented. Only that you get information so you can make a better decision about your options.

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