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Justin Kenneth Kuney
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Justin Kuney’s Answers

3 total

  • Chapter 7 bankruptcy. What is the rule regarding what happens if I become entitled to an inheritance after filing?

    Just wondering. Mother in poor health.

    Justin’s Answer

    I agree with the other answers. They call it the claw-back period. The bankruptcy estate includes assets acquired by way of inheritance within the 180 days following the date of filing. See section 11 USC 541(a)(5)(A). If you are concerned with a family member's health but you need to file for bankruptcy, you should first estimate the value of your anticipated share of their estate and the available exemptions you would have in the bankruptcy. If it appears as though you cannot exempt the inheritance you should see if the family member could change their estate planning documents to create a spendthrift trust. This could bypass the reach of your creditors. You could also disclaim your potential inheritance prior to filing. Just make sure your bankruptcy attorney works closely with your family member's estate planning attorney.

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  • Is it possible to levy on an account associated with store credit card, having a judgment against a cardholder?

    I am a judgment creditor (small claims). Having found out about debtor's accounts it appears that he only has a HOME DEPOT/CITIBANK card with a credit line up to $1500 . Is it possible to place a levy (similar or different to a bank levy) on th...

    Justin’s Answer

    I agree with all of the other answers. You cannot levy against an open line of credit. However, you could levy against a pre-paid credit card or debit card account.

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  • What is the typical cost of filing a chapter 7? And what if you can't afford it?

    CitiBank has turned me over to a collection agency, AllianceOne. Everything I have read about this company isn't good, and they are trying to force information out of me, and for me to make some payments to them, until they can "lower my balance"...

    Justin’s Answer

    Most chapter 7 fees would range between 1200 and 2200 filing fee included. Fees are generally determined on a case by case basis depending on the complexity. Most BK attorneys will allow you to make payments toward the fees but will not file your case (or get the protection of the court) until the fees are paid-in-full. If you do not have the money there is not much you can do. You can file without an attorney but the process can be complex and you may just waste your filing fee. You can apply for a filing fee waiver from the court but they are hardly ever granted and usually result in installment payments to the court. Keep in mind that you cannot squeeze blood out of a turnip. There is not much they can do to you until you have some money. However, it is something that you will eventually need to take care of.

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