Re: bk questions

Posted by J Kelly (141.151.13.80) on July 17, 2004 at 17:00:07:

In Reply to: bk questions posted by dmh on July 17, 2004 at 16:34:03:

I think you need a free consultation with a good bk attorney. Actually, I would recommend that you speak with 2 or 3 of them. One attorney actually told me that I could not file bk because I owned too much. Long story short, I did and I had no problem. They probably have a standard percentage for tips. They are going to look at your income tax returns for the last two years. What state are you in? 10K is not a lot to file bk over. You might want to do an informal bk (that means just stop paying unsecured debt). Depends on what assets you have. Chances are very good that nobody will sue you unless they find assets. In some states the homestead is 100% protected. Most states, there is a homestead allowance. Your personal things, including furniture and electronics are not worth much used, and therefore are exempt, vehicles also are usually not worth enough for the creditor to bother with. Remember this, there are a lot of costs to sue. There are a lot of costs involved to execute a judgement. I am just guessing that you are what we call judgement proof. Lady is the bk expert around here, and she will know the anser to you question. So, wait and see if she replies, and if she doesn't post something to her directly.

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