Bought Rv seven years ago. Husband and my disabilities are worse. Husbands disability gets worse on a daily basis. Owe more than we can try to sell it for.
Family Law Attorney
You are required to list ALL debt on your BK petition, and all will be discharged, except for certain debts such as taxes, student loans. Meet with a local bankruptcy attorney. Good luck.
Be sure to designate "best answer." If you live in Oregon, you may call me for more detailed advice, 503-650-9662. Please be aware that each answer on this website is based upon the facts, or lack thereof, provided in the question. To be sure you get complete and comprehensive answers, based upon the totality of your situation, contact a local attorney who specializes in the area of law that involves your legal problem. Diane L. Gruber has been practicing law in Oregon for 26 years, specializing in family law, bankruptcy, estate planning and probate. Note: Diane L. Gruber does not represent you until a written fee agreement has been signed by you and Diane L. Gruber, and the fee listed in the agreement has been paid.
To answer your initial question, No. If you file for bankruptcy protection that will involve ALL of your assets and liabilities.
As a practical matter, I would counsel you to invest the time in a consultation with a bankruptcy attorney. Most offer FREE initial consultations to discuss your overall financial picture. In your case, with your disability, it may be that bankruptcy is not a necessary step.
Are you and your spouse employed? or receiving disability income? or both?
Tim L. Eblen
Chapter 7 Bankruptcy Attorney
I agree with the other attorneys, there is no such thing as "partially bankrupt." When you file bankruptcy it is an "all in" type of situation. You get to exit the bankruptcy with your exempt assets, emerging debt free (with exceptions). You should consult an attorney to find out your best options. As touched on by another attorney here, you may not need to file bankruptcy. Depending on the source of your income, you may be collection proof and if so, bankruptcy would be of little benefit to you.
No. You must list all your debts. All debts are discharged unless exempted from discharge (11 USC 523) or "reaffirmed" (11 USC 524). However, as a general rule, you can always choose to make payment on any discharged debt you like. The creditor may or may not accept the payment. A local credit union and private party is more apt to accept payments. A larger institution (Chase, etc) may not. Having said all that, if your income is solely disability benefits, then your income is exempt. Maybe you do not have assets available to creditors. In that case, you don't have to file and you can just pick and choose who you want to pay (and give back the RV). Make sense?
My answer is general information not intended to create an attorney-client relationship. Seek advice from a qualified attorney to see how the law fits your specific facts. If you are in Washington or Oregon, please feel free to contact us to see if we might be of assistance.