Questions about what I can omit or exempt

[PleezHelp]

Hi, new to this and in need of advice so I dont have to keep rephrasing for Google to find me a vague answer.

First Q...
Do I have to list my husbands motorcycle as property? I have nothing to do with it. Not a co-signer or involved in any way with the purchase or credit. P.S. the bike has been in an accident and has an upside-down value.

Can they try to liquidate my husbands motorcycle for the debts I accrued before the marriage? *I have no new debt during the marriage*

In Form B6-Schedule D, do I list the original creditors address or the collection agency? My credit reports show the collection agencies addresses only.

[justbroke]

You would only list joint debts and joint property. California is a community property state, so you would need to make that consideration when listing joint debts and property. The question for you will be whether the motorcycle was acquired during the marriage and that became "community" property.

If you have property that was acquired during your marriage and you are concerned about the protection of these marital assets, I strongly suggest an attorney. I am not an expert on community property states and I live in an "equitable" distribution state so I really have no perspective on this.

What are you putting on Schedule D? Is this for the motorcycle? Generally speaking, if this is just a collection agency, they would not be put on Schedule D since a CA is just an agent collecting (or attempting to collect) on behalf of the creditor. If the debt was sold to a third party, then this is not a CA and is the owner of the debt and would be treated as any other creditor. If none of that makes sense to you, then you have some issues with classification of the debt and which entity is the actual creditor.

Are you considering filing Pro Se? I'm not sure you are ready. Do you know that there are Pro Se Debtor clinics and attorneys that do pro bono work in California? I see some issues with the status of jointly held (community) property and you will need to figure that out if you are trying to save the property.

[PleezHelp]

The debt was an issue of me co-signing under duress while in an abusive relationship back in 2007. The motorcycle was bought by my husband in 2012 with his income, credit and only his name during our marriage. The motorcycle had an accident and is now worth less than is owed. I am filing independantly and I really would hate to see my husband lose his bike because of my past. And the Schedule D was not for the bike. We aren not getting rid of his debt, just mine. by the way the bike is his only mode of transportation.

[bcohen]

If the motorcycle is fully encumbered by a lien, then it has zero equity, and the bankruptcy trustee won't touch it. Remember that even if your name is not on the loan, the trustee would have to pay off the lien in order to obtain clear title to sell the bike. I think you are worrying too much about this.

[LadyInTheRed]

Unless there is a pre or post marital agreement, in California, income earned as a result of the labors of a spouse during marriage is community property. Assets purchased with community property income are community property assets. Assets acquired and debt incurred before marriage are separate property and separate debt. Separate property can become community property if it is not kept separate from community property and the other spouse's separate property.

California has generous bankruptcy exemptions to protect assets. If the motorcycle is community property, chances are you can protect your 50% community property interest. Your husband's 50% is safe as long as you have no community debt.