I live on 5 acres which used to be a dairy farm with 3 barns. I let my neighbor raise beef cattle in my barns and feedlot free of charge. I will be filing 13 in a month or two, would be a 7 if not for the heloc. I have no money invested in his operation. What are the chances this will create a problem with my bk? Other than the cattle he has other assets on my property like a tractor and feed mixer and other equipment needed to raise cattle. Do I need to make him get all his assets off my property? I really don't want to because he has no place to go with them except for the auction barn, but I don't want to see him have to fight the trustee for his property either.
-
-
At the 341 meeting, you need to tell the trustee about the items that do not belong to you that are on your property.
There's nothing to disclose if before hand if they're not yours, and if you try to have them moved, it looks like you're hiding something.
No big deal.....All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event....... -
Thanks,,, I thought it could lead into big problems for my neighbor and I don't want our bk to affect anyone except me, my wife and our unsecured creditors.Comment
-
How is the HELOC keeping you from filing a chap 7??Originally posted by ivehadit View PostWife Laid off - 11/16/2009 Missed First Payments - 12/5/2009
Filed Chap 7 - 12/31/2009
341 - 2/12/2010
Discharged - 4/19/2010
Comment
-
Because I'm afraid to gamble on settling on the heloc after a 7. The first is under water but if/when housing improves it will have equity in a short time. I qiut paying on the heloc Nov 09, they now want all the money $28,000 they have an attorney on it now he sent me a letter of intent to sue I responded with a DV letter and I'm now in the process of finding my bk attorney.Originally posted by BCA2009 View PostComment
Comment