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Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
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  #1  
Old 05-06-2003, 04:20 PM
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timing of filing


What is the name of your state? CA

Facts
- large sum of money coming from divorce settlement.
- money is from sale of home that was not in my name, equity check held by attorneys until division
-court date nowhere in sight and division of money wont be for another several months,dragged out again and again for over 2 years now.
-I need to file BK,nothing in ex's name..all new debt so thats not a problem

question
-can I file now without listing that the money is coming? The sale of property did not have my name on what-so-ever.
  #2  
Old 05-06-2003, 04:40 PM
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Location: Nashville,TN
Posts: 15,706
No, you'll have to 'fess up to the pending settlement money anyway. The Trustee will ask if you're expecting any inheritences or settlements and if you lie and its found out, you'll be in big trouble.
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"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.
  #3  
Old 05-06-2003, 04:47 PM
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option


ok..makes sense. So dont file until after the settlement? Wait for 4 or 5 months after settlement?
Suggestions?
Thank you for your reply.
  #4  
Old 05-06-2003, 06:24 PM
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Join Date: Feb 2002
Location: Nashville,TN
Posts: 15,706
If you can wait 6 months after you get the settlement, that would be even better. However, if its a large sum it could still be questioned by a Trustee unless you can show that you spent all the money on necessities and didn't just blow it at the mall
So.. keep receipts for everything.. get any dental work done, put it into exempt assets, etc.

Best to consult with a BK lawyer too, so you know where you'd stand. A decent BK attorney knows the Trustees and the kinds of things they pick on.
__________________
"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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