English translation please...

[pookiebear]

I am in Indiana, trying to save my "Joint" property

Property held as tenancy by the entirety may be exempt against debts incurred by only one spouse
Ind. Code Ann. § 34-55-10-2 (c)(5)

I am filing alone...also does this mean the house or (whatever) we live in?
Real or personal property used as residence to $17,600 (husband and wife may double);
Ind. Code Ann. § 34-55-10-2 (c)(1)
Ind. Code Ann. § 34-55-10-2 (c)
Ind. Code Ann. § 34-55-10-2.5

my schedule has 14,000 in assets mostly joint

I have filed partially. pro se

Thanks in advance,
Pookie

[AngelinaCatHub]

Pookie don't use yellow, it's hard to read. Explain "partially" pro se. You have to be pro se or be represented. Not even can you use a paralegal as they cannot practice law.

I don't know Indiana statutes but it does sound like you have protection for most of your joint owned property. However, the way I am guessing is that if you become an asset case, the Judge may have you sell some and your half goes away. I am sure more will chime in to help. 'Hub

[pookiebear]

I did an skeleton 7 (emergency petition) so I file the rest of my papers tomorrow. tks.

pookie

[HHM]

Keep in mind, tenancy by the entirety only applies to your primary residence (the house you live in). you will need to use exemptions for everything else.

Also, using tenancy by the entirety assumes you actually have the house titled as such.

[pookiebear]

Wow, I am on the deed I presume, but I am NOT on the mortgage. (so how will this effect me?) I have 14,000 on my Schedule B in Joint assets and personal; it also includes the expected 6,000 dollar joint tax return. my wild card protects $9,350 of any real estate or tangible personal property. So we may lose all or part of the tax return. Now I am worried about the house that I have NEVER made a payment on....WOW, what a mess.

[HHM]

Sounds like someone needs an attorney.

[ValleYum]

I am in Indiana, trying to save my "Joint" property

Property held as tenancy by the entirety may be exempt against debts incurred by only one spouse
Ind. Code Ann. § 34-55-10-2 (c)(5)

I am filing alone...also does this mean the house or (whatever) we live in?
Real or personal property used as residence to $17,600 (husband and wife may double);
Ind. Code Ann. § 34-55-10-2 (c)(1)
Ind. Code Ann. § 34-55-10-2 (c)
Ind. Code Ann. § 34-55-10-2.5

my schedule has 14,000 in assets mostly joint

I have filed partially. pro se

Thanks in advance,
Pookie

Real property is basically real estate.

Personal property in this context could be a mobile home that is on land that you don't own (as an example).

Tenancy by entirety is somewhat less than usual and your property deed as well as mortgage papers should say so very clearly if this was the case.

Do you have equity in your home? If so, then you can protect half of it - up to $17,600 - since you are filing bk alone.

Wow, I am on the deed I presume, but I am NOT on the mortgage. (so how will this effect me?) Not sure. Hopefully someone else can help more. I have 14,000 on my Schedule B in Joint assets and personal; it also includes the expected 6,000 dollar joint tax return. my wild card protects $9,350 of any real estate or tangible personal property. This would be items like your car, furniture, appliances, electronics, clothing, wedding rings, etc. But only your portion since you are filing alone without your hubby. IMHO, it talks about real estate here in case you owned more than 1 home or own some land. You can have up to $350 of intangible property like cash or bonds. So we may lose all or part of the tax return. Now I am worried about the house that I have NEVER made a payment on....WOW, what a mess.

Is part of your tax return for the Earned Income Tax Credit? If so, that part appears to be exempt under Indiana law.

Earned Income Credit is exempt from the Trustee, so if a person is due a tax refund, the portion of the refund that is part of the Earned Income Credit cannot be taken in your bankruptcy.

http://www.cliffdavenportlaw.com/2010/04/10/tax-refunds-and-bankruptcy/

I don't think you can exempt the tax return as "Tangible personal property" so hopefully most of your return is EIC. Since 50% of the return belongs to your hubby hopefully you won't lose too much. Besides losing part of a tax return is a small price for getting rid of all of your dischargeable debt.



This info is the best I can come up with after some brief research on the internet. Nothing I say can take the place of the advice of a local attorney who knows the ins and outs of your district.

Hopefully, others will chime in with advice or tell you if I am glaringly wrong about this.

Good luck!!

Sounds like someone needs an attorney.

It does - but since she filed an emergency petition on the 19th of January - she is out of time - she has to file by the 2nd. What would happen if she did not complete her petition - could she refile at a later time without penalty? Would she have to wait 6 months?

[HHM]

It does - but since she filed an emergency petition on the 19th of January - she is out of time - she has to file by the 2nd. What would happen if she did not complete her petition - could she refile at a later time without penalty? Would she have to wait 6 months?

It would depend on the nature of the "emergency", what was going to happen whereby an emergency petition was needed in the first place. I think there are more layers to this onion and that the debtor probably stepped into a pile of manure because she was walking blind folded through a herd of cattle (meaning, the OP filed BK without really understanding the situation or the consequences of doing so).
Having said that, she probably would be okay to just let the case dismiss by not filing the balance of the paperwork, she could, but she needs to really, at least, speak with an attorney at this point.

[pookiebear]

I filed that way ("emergency") because of a 3rd party collection agency was suing me and I had a court date the next day. I also had another suit from a 3rd party approaching. I panicked and filed a skeleton 7. I have zero income. I haven't worked in 2 years. hubby pays the bills. (he just started working again after 7 months of being laid off) Hope this clears up some things. Also my name isn't on the deed or the mortgage.