Non-Exempts assests are killing me.

[rbaronex]

[justbroke]

Arizona doesn't seem to have a wildcard exemption. it wouldn't matter anyhow, as most wildcards are rather low and insignificant, unless there's some sort of unused homestead exemption. Since you are keeping your homestead (or otherwise receiving the benefit of a homestead exemption), you wont' see one of those.

As you know, trying to keep that type of secured property, requires you to pay the liquidation value as if you were filing a Chapter 7. Unfortunately, that's requiring you to pay the $35K value to the unsecured creditors, in addition to your already calculated disposable monthly income (DMI).

While it's commendable that you're trying to protect other family members, you're probably setting you plan up for failure anyhow, and losing the asset(s). This will still come back to haunt you and your family members.

Have you talked to the family members? The only thing that would happen is that they'd be responsible for the payments on those items. Perhaps you could work something out??? Or, are you trying to hide the whole thing from them? The latter is what tends to get people in trouble anyhow.

[lrprn]

I cannot sell them, because it would get questioned if these were sold prior to me filing, I just have to hold on to them until my 5 year plan is paid.

This is where you are mis-informed. If you haven't filed your Ch 13 yet, then you can still sell assets for their current market value, even to family members.

I can do a 7 and give them back, but I cannot do that at this time due to interest of other family member in these assets.

Then you've set up a situation where you will have to pay $1000/month to meet all the goals you've decided that you must meet. If you can't afford $1000/month, then you have some hard choices to make.

Is Arizona entitled to a “wild-card exemption?”

No, Arizona does not have a wild card exemption - http://www.bankruptcycorner.com/bank...exemptions.php

Ron, you are trying to find a way out of a room that has no exits for what you want - a plan you can afford and still keep all the assets you have. No matter how many times you ask us about this situation, the answers are going to be the same. You either have to (A) sell one or more assets for current market value before filing and find ways to get the cash down below what's protected on filing day; (B) surrender one or more assets when you file; or (C) pay $1000/month to keep everything. There is no option (D).

[Alone]

If he were to sell these items what happens to the money made. Won't he have to turn it over anyway? Now he loses the asset and the money made from it, right?

[catleg]

Ron you may need to restructure your affairs and delay to achieve your goals.
How close are you to getting judgments against you? You may need to sell, encumber, or retitle those assets and then run out the clock before filing BK.
There was this guy who's chapter 13 case I read about, he stiffed the Borgata casino for about 200k. He transferred his interest in his home to his wife, waited 2 years then filed. The judge and the US District Court took his side, the casino lawyers were pushing it to the appellate level. Don't know how it turned out.

[lrprn]

If he were to sell these items what happens to the money made. Won't he have to turn it over anyway? Now he loses the asset and the money made from it, right?

If the OP sells an asset, then he would have to find legitimate ways to reduce the received cash down to what is protected on filing day. Common home repairs (for example, a new roof, bathroom and kitchen repairs, etc) can eat up quite a chunk of cash. His lawyer can provide ideas of acceptable ways to spend down the cash before filing.

[catleg]

Speaking of "alleged' fraudulent transfers, here is that case involving the Borgata casino I mentioned, it was finally decided by the appeals court, not in the casinos favor.

http://www.fedbar.org/Bankr_Richmond.pdf