As some of you know, we filed that HOH exemption and they opposed it. We hired a lawyer for that part and now she said that they are willing to forego court and accept the exemption if we fill out that FIS sheet. If we do this, they will see the second job and the huge amt. of money we removed from our savings, in case they levied our bank account. Thing is, if they are requesting the last three bank statements we might as well file bankruptcy now. My main question however is: Which chapter will protect us from large money made in the next two years? My husband has a reality show coming out where he is the producer and creator and will most likey make some serious money down the line...when? We don't know. So which chapter is best in this case?Just to clarify because I was beat up on here. We are not trying to defraud anyone. We removed that money because we were told to by two different lawyers we made appts. with in case they froze our bank accounts. I pay every bill out of that. We keep enough in there just to pay those bills. We were always told to invest that money but couldn't figure out what to do with it. We really want to use it to pay off husband's student loans because they are killing us and my van is almost dead. It's really old.
No attorney on AVVO can possibly answer which chapter is better without sitting down and going through many many facts that are impossible to put all on AVVO. You already have an attorney..if they don't do bankruptcy law find a bankruptcy attorney.
I have to agree with Mr. Granvold. And I would be concerned about the the fact that FIS sheet.
You can explain the removal of the money from your savings account, but the creditor will want to see where that money went to, which I guess is why you are asking this question.
And the answer is no matter which chapter in bankruptcy you choose to file under, I promise you, the creditor and the trustee will likely be interested in knowing where the savings money went to.
Click on the "Find a Lawyer" tab above, and locate a bankruptcy lawyer in your area who has been in practice for a significant period of time. This is going to take a lot of finesse.
This is a public forum. Any questions or answers published here should not be construed as the giving or receiving of legal advice or the formation of any attorney-client relationship. You should consult with a competent attorney in the jurisdiction where your legal issues are pending and get good, solid legal advice. This being a public forum, those answers you do read are merely given for informational purposes only.
I have had so many clients being approached by production companies for a reality tv show. It is the latest "pie in the sky" pipe dream. This do it yourself self help stuff you have been trying on for size sounds like it is reaching the grey area that may be considered criminal..as in go directly to jail. I urge you to look at the provisions of the Uniform Fraudulent Transfers Act as it exists in your state. Neither form of bankruptcy is likely to protect you if your dream of tv riches comes true, so I would stay within the law and out of bankruptcy court until you have a couple of years of law abiding behavior under your belt. Hope this perspective helps!
You need to consult with your own attorney to go over the specifics of how a bankruptcy will affect your personal situation. Consult with a few attorneys in your area. Good luck!
The asking of and answering general questions does not establish an attorney-client relationship. Please consult with an actual attorney in your local area before deciding on a course of action.
Your situation is a bit complex and needs to be evaluated more thoroughly before making a recommendation but based on what you have indicated so far a Chapter 13 will probably be the best strategy for you. Keep in mind Chapter 7 Trustees make money in a case where they are able to recover money for the creditors. Anytime there is significant activity involving transfers of money out of a bank account in the months prior to filing the Trustee assigned to the case will be looking into the details. Unless you can document everything and provide a very good reason for it you will looking a very long, drawn out and potentially expensive experience with the bankruptcy process.
I agree with my colleagues. Also, there are just too many unknown facts. How much is your debt? Is it joint debt or just yours or your husband/s? Do you possibly have enough excess income to propose a 100% chapter 13 plan? (Something to consider in your case given the facts that you've revealed.) Also, have you kept a ledger or receipts of how you spent any monies that you have withdrawn? You have a complicated case. I urge you to speak to a well seasoned bankruptcy attorney who can review your bank and financial accounts, debts, income, expenses., contracts you or your husband entered into, including one relating to the anticipated reality show. Best of Luck, Barbie D. Lieber, Esq. of Lieber & Lieber, LLP 212-949-5586
Legal disclaimer: Barbie D. Lieber, 60 East 42nd Street, Suite 2102 New York, New York 10165. www.lieberlegal.com. 212-949-5586. All information given on this site is general in nature and for informational purposes only, and not legal advice. Only a lawyer, reviewing the underlying documents and facts, in a meeting in person or over the phone, can determine what course of action any person can take. No attorney/client relationship is created by participation on this site. No attorney/client privilege attaches to any communication on this site
Years licensed, work experience, education
Peer endorsements, associations, awards
Publications, speaking engagements