Hi, I am told that I can qualify for a chapter 7 bankruptcy but based on my income I am really close to making too much money. What income qualifies? Does court ordered child support that I receive qualify? Same question with VA disability. What is this number I have to be under?
Do I receive the extra exemption that is afforded to veterans if I have a 10 percent disability rating?
I rent, I have $40k in unsecured debt. I have a car worth negative equity at $20k and a boat with no equity financed at $22k.
I am told I can potentially keep the boat if I chose to continue to pay for it and have it put down as part of my recreation budget. Is this true? I will probably give it back also however.
My work gives me a truck so I will give the car back.
I have a jeep wrangler that’s worth exactly $6,000 that I own and am told I can keep.
Outside of those items I have some small items of value. $1500 in tools. $800 jon boat. $200 kayak. $4000 in furniture. $500 in fishing gear. 2 outboard motors worth $150 and $250. A bow mounted trolling motor worth $900. Regular amount of regular clothes. 4 tvs worth $150 to $400 each. A trailer worth $300. A bike worth $350. A paddle board worth $100. A guitar worth $800. A guitar Worth $200. What items should I expect to be able to keep and what will I lose in the bankruptcy?
What if any suggestions are there to maximize the benefits of the bankruptcy before, during and after I file. Obviously I do not wish to commit fraud but if there are some things that I can do within the confines of the law to maximize this experience I would appreciate it. Any other general pointers are appreciated.
Do I receive the extra exemption that is afforded to veterans if I have a 10 percent disability rating?
I rent, I have $40k in unsecured debt. I have a car worth negative equity at $20k and a boat with no equity financed at $22k.
I am told I can potentially keep the boat if I chose to continue to pay for it and have it put down as part of my recreation budget. Is this true? I will probably give it back also however.
My work gives me a truck so I will give the car back.
I have a jeep wrangler that’s worth exactly $6,000 that I own and am told I can keep.
Outside of those items I have some small items of value. $1500 in tools. $800 jon boat. $200 kayak. $4000 in furniture. $500 in fishing gear. 2 outboard motors worth $150 and $250. A bow mounted trolling motor worth $900. Regular amount of regular clothes. 4 tvs worth $150 to $400 each. A trailer worth $300. A bike worth $350. A paddle board worth $100. A guitar worth $800. A guitar Worth $200. What items should I expect to be able to keep and what will I lose in the bankruptcy?
What if any suggestions are there to maximize the benefits of the bankruptcy before, during and after I file. Obviously I do not wish to commit fraud but if there are some things that I can do within the confines of the law to maximize this experience I would appreciate it. Any other general pointers are appreciated.