Im considering filing and am curious how BK affects firearms that are owned. are they sold off, can i keep them?
thx!
thx!
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They will be treated as any asset. Determine the value of them and then, if you can, exempt them. If they are high in value and you don't have enough exemptions to use, you can offer to pay the non-exempt amount to the trustee so that you can keep them.Originally posted by nevada View PostFiled Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions. -
Every state treats them differently. In AZ you can exempt (keep) 1. In Texas you can keep an arsenal (exaggeration but not by much).
Bottom line advice, look up the bankruptcy exemptions for your state to see ALL that you can keep and what you stand to lose, not just your weapons.Filed CH 7 - 5/21/10, 341 Meeting - 7/9/10, Report of no distribution - 7/12/10
Last day to object - 9/7/10
Discharged - 9/14/10
Closed - 9/21/10
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Im in Nevada, and just declared my firearm to my attorney, nothing was said about it after that, trustee didn't even bat an eye..Filed 12/182009 (happy BIRTHday to me!)
341: 1/28/2010 (uneventful)
DISCHARGED: 3/28/2010
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Originally posted by doudis2 View Post
TX is only 2 firearms. And from my understanding it cannot be doubled for married couples.Comment
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