Thanks, I will certainly take the advice about stopping the direct deposit of my pension checks. I am moving to another state that is far away so will be closing out the old accounts anyway. I have already opened a new account there with a small deposit, and will maintain only small balances so that I can easily cash my checks, and pay a few small monthly bills from it to keep it active.
I have not yet filed BK, and will not need to unless the HELOC lender on my old residence manages to get a judgment lien attached against my new homestead, (which is 100% financed by way of a 80/20 mortgage, and in which I therefore have no significant equity)
This HELOC is the only account, other than the already foreclosed first mortgage that I am in arrears on, everything else is up to date, and I only have one CC with a small balance
So if I do not keep my money in a bank, live frugally, and manage to accumulate a fair amount of cash, in filing BK I must list it, and the BK trustee will still take it to satisfy the creditor.
I am aware of the exemptions, however because I have bought and sold income properties within the last ten years, If I file, I am expecting that the creditor will claim that I was engaging in Fraudulent Transfers, and thereby succeed in depriving me of both BKs Exemptions and a Discharge.
So I wait.
I have not yet filed BK, and will not need to unless the HELOC lender on my old residence manages to get a judgment lien attached against my new homestead, (which is 100% financed by way of a 80/20 mortgage, and in which I therefore have no significant equity)
This HELOC is the only account, other than the already foreclosed first mortgage that I am in arrears on, everything else is up to date, and I only have one CC with a small balance
So if I do not keep my money in a bank, live frugally, and manage to accumulate a fair amount of cash, in filing BK I must list it, and the BK trustee will still take it to satisfy the creditor.
I am aware of the exemptions, however because I have bought and sold income properties within the last ten years, If I file, I am expecting that the creditor will claim that I was engaging in Fraudulent Transfers, and thereby succeed in depriving me of both BKs Exemptions and a Discharge.
So I wait.
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