2 questions on summary of schedules and laws on exemptions

[upontheventura]

What is the name of your state?NH
The asset portion if my summary of schedules will include ALL assets- even the ones that are exempt on schedule C, right?
On the exemption sheet it asks for which law applies(allows) that specific exemption- How do i find this out? Will it be either 11 USC 522(b)(1) or the 11USC 522(b)(2)? These are two laws listed at the top of the sheet-
And i am investigating whether NH allows the federal exemptions because it would allow me to keep some of my bank account. One site i read said NH DOES allow Federal, Bankruptcyaction.com says state only. NH's exemptions are truly the worst of the 50 states. Fowl, chickens, ect...

 

[upontheventura]

OKay..

NH does NOT allow the federal exemptions. I will be using 11USC.&522(b)(2)
Found the NH law that allows me to keep my 401K- this law applies to any debts incurred after 1/99- which mine fall under- it is
RSA 511:2(XIX)
Here is a new question- I have my car that i am making payments on and i still have the 245,000 mile Saab that sits in my yard.(The dealership wouldnt take it as a trade)lol It needs a tranny but runs- has some major dents too. SHould i list this as an exemption because NH allows a car up to $4000.00 (its worth about 1400.00) or the fact that i am keeping my other car disallows me from claiming this one? Since there is no law protecting my bank account I better figure some way to survive if the worst happens. I do not want to look greedy or shady. And i guess filing pro se already makes me look bad. That is why I made a copy of the 401K law i found online. I am afraid that the court will be condescending and suspicious and wonder HOW little old me could possibly get this info without any help from a lawyer.

 

[upontheventura]

Raffirm car or just keep paying?

The staement of intention confuses me- I can claim as exempt, redeem, or reaffirm. I dont want to do either. I just want to continue making payments.Then I thought, Does NH REQUIRE reaffimration? So I read the NH reaffirmation form. And it says:
"You are allowed to pay this debt WITHOUT SIGNING this agreement. However, if you do not sign this agreement and are later unwilling or unable to pay the full amount, the creditor will not be able to collect it from you. The creditor will also not be able to take your property to collect the debt unless the creditor has a lien on the property."
SO since it is established that i dont have to reaffirm, do i sign the statement of intention at all? It says to check the applicable statement- none of the three apply. I would think i fill it out- I put the car as property to be retained, don't check any of the 3 options, and just sign it and turn it in.

 

[Ladynred]

Why the heck don't you wait until you get your NOLO book ?? ALL your questions will be answered in that book !!!! You're jumping the gun and you risk screwing yourself in the process.

-You list ALL your assets - period.

-The laws govering exemptions are NOT the federal sections of the BK code, you need the applicable NH laws - and they are in the NOLO book.

- Exemption for auto goes to equity. If you can exempt BOTH cars with the $4,000 exemption, then you save them both. However, I find it hard to believe that a very old SAAB with 245,000 miles and in bad mechanical condition can be worth $1400. Get a blackbook value on it. If the car dealer wouldn't take it, then its not worth $1400.

- NH does NOT require a reaffirmation or redemption to retain secured property (Its in the NOLO book !!!). On your statement of intentions, if you'er going to keep the vehicle, then say so - how hard is that ?? If the 4K exemption will cover the equity, then you claim it as exempt. If you owe the lender on the car, they have a lien on it.

I am afraid that the court will be condescending and suspicious and wonder HOW little old me could possibly get this info without any help from a lawyer.

Oh c'mon - get over it already ! The court sees pro se filers every single day !! They are not going to be condescending - they don't care and you won't be in court long enough for it to make a difference. The only suspicion would come on the part of the Trustee and that only if your petition is really fishy.

 

[upontheventura]

Ladyinred. You are awesome.

You really let me have it.lol I CANNOT wait to get the NOLO book. I have never wanted to get something over with as much as this. Thanks for your help and patience!

 

[Ladynred]

I can well understand wanting to get it over with, but haste is not a good thing in this case. You risk serious problems if you miss something or do it wrong and its not worth speeding thru to get your papers filed.