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#1
09-18-2005, 04:22 PM
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 How will filing BK effect me?What is the name of your state? New York I am married & I want to file under chapter 7 for myself only. I have 2 questions: I was the only one on the mortgage & deed then we refinanced in Jun '05 & I could not qualify to be on the mortgage so It was changed to only my husband's name & my name was removed from the deed as well. Will this effect my filing (exemptions) because the cash out that was taken was used to do some very neccessary home repairs, but the deposit will show in our joint account. Also there was another large deposit back in 2003 but this was back SS Disabilty money from when my husband was out of work injured so we use that money for home repairs & to play catch up on mortgages payments & utilities plus I lost my job @ the time the funds came in. No work was found for 7 months so the money was also used for daily living. I currently have no car or house in my name but I contribute to paying the bills in the house. Not sure how all of this will effect me. Any info would be helpful. Thanks. Last edited by justlost; 09-18-2005 at 05:04 PM. Reason: renaming subject |
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#2
09-18-2005, 05:24 PM
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| You need to consult with an BK attorney ASAP... Your questions are for them and they will be much more helpful to you... On top of that , BK laws change OCt 17th, and there are indications that lawyers will not accept filings after Sept. 30... In other words GET IN THERE!
__________________ Tenant Advocate "Alaska landlord" has been banned THRICE for providing inaccurate and false advice. Any of AL's posts should be taken at face value and heavily verified by a competent Real Estate Attorney. |
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#3
09-18-2005, 08:41 PM
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| If the cash-out was used for necessities as you say it was, then as long as you can show PROOF of where that money went, it shouldn't be a big problem. What's more of an issue is the transfer of assets just a few months ago and so close to filing for bankruptcy. That will be looked at pretty closely. The 2003 deposit probably won't ever come up, but make sure you tell the bankrupcy attorney about it anyway. Your husband's income is going to have to be listed as it goes to household income. If it looks like he could pay ALL the necessary bills while your income is freed up to pay creditors, you may wind up in a Ch 13. This is why you need to find a lawyer and ASAP. How late the lawyers are going to take clients for beating the 10/17 deadline is up to the lawyer, but you still need to hurry.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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