no choice but to sell property

[systemslt]

creditor won a default judgment claim against me. within 30 days they cleaned out my joint checking account. and garnished my pay check to the maximum amount aloud. I only found this out by the mortgage co. calling for payment.

a few days ago my wife had a mri and was instructed to consult with a Nero surgeon to discuss the results. after his review he gave her a few options to consider but she will not be working any time soon.


went to a Bank,rup. consultation a few days ago and talked over some passable options.

the good-----looks like we may pass the means test for chapter 7

the bad-------we have not filed taxes in three years

the ugly------- we have no money and not much time to try to save what we have left.





the only option I can think of is to sell my motorcycle. if i can get fair market value for it, i think it would cover.

the cost for the tax man to figure out my tax mess, so Bank,rup. lawyer can start to work on my Bank,rup. case.

the BK lawyer fee ,and file fee.

missed mortgage payment.



can i give the IRS money from the sale if this motorcycle at this time?




will the sale of this property jeopardize my bank,rup. case?

Thank You.





.

[FreshLikeADaisy]

Systemslt, please do look into whether your state has a Claim of Exemption process you can use to minimize the % of your wages currently being garnished. If you google "claim of exemption" and the name of your state, you should be able to find out more info.

Beyond that, I think your Very. First. Move. before anything else HAS to be the unfiled taxes. You're not going to know what you owe, or even what options you have, much less file bk, until that is complete. If you're not planning to file bk for a few months, you're probably safe selling the bike for *fair market value*, no less, as long as you keep good track of the sale and where the money went afterward (bills, tax help, atty, etc). Good luck!!!!