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Old 09-26-2002, 09:26 AM
hchhon
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Thinking of filing CH7

What is the name of your state? MA

I get into debt by doing a balance transfer from my various credit cards and to son credit cards. I have outstanding balance of 50k and I am out of job. My son is in trouble too. He is in debt too. He is losing everything in the market but he still has a job. I want to file for CH7. I have about $15k in 401k and $15k in saving. My new car is financed and I don't have a house.

Can I file for CH7 and what should I do with my 401k and my $15k saving in the bank? Can I transfer my car financing to my son before I file CH7? Please someone help me.
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Old 09-26-2002, 09:33 AM
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Join Date: May 2001
Posts: 6,450
Well, your 401K is exempt from creditor seizure. As to the rest of your question, I'd advise seeing a lawyer before you dispose of or, transfer any property. Most lawyers give free initial consultations.
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