I just purchased the Nolo book to help my father file chapter 7, but have had a burning question I was hoping one of you could answer (just got the book today and a bit overwhelmed). 
New York...no 'joint property' except for the house...would my mother's savings accounts and Certificates of Deposit be on the table? Perhaps wishful thinking on my part, but everything seems to suggest no, they won't.
As I understand it so far, merely her income and expenses come into play, but separate property does not.
Lastly, the house - year old assessment of $54K, and New York raised the 'Homestead exemption' from $10K to $50K, so wondering how the $4K in non-exempt equity plays out. Given he can no longer pay his debt, I am guessing installments are out of the question? Would they force a sale and return the exempt $50K? I doubt they could get $40K for the house, so the family would welcome this route. ;)
Okay, just thought of one more - two cars..both mom's...one owned and ~$3K in equity ($2,400 would be exempt if filing) and one she owes $8K on with little equity, so again, assuming these are not in play, either?
New York...no 'joint property' except for the house...would my mother's savings accounts and Certificates of Deposit be on the table? Perhaps wishful thinking on my part, but everything seems to suggest no, they won't.
As I understand it so far, merely her income and expenses come into play, but separate property does not.
Lastly, the house - year old assessment of $54K, and New York raised the 'Homestead exemption' from $10K to $50K, so wondering how the $4K in non-exempt equity plays out. Given he can no longer pay his debt, I am guessing installments are out of the question? Would they force a sale and return the exempt $50K? I doubt they could get $40K for the house, so the family would welcome this route. ;)
Okay, just thought of one more - two cars..both mom's...one owned and ~$3K in equity ($2,400 would be exempt if filing) and one she owes $8K on with little equity, so again, assuming these are not in play, either?
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