No...your retirement in a qualified plan (like a 401k), is exempt from seizure up to any amount!
Your 401(k) account is protected, but once you take the money out, it is just like any other money. If you do this while in a c. 13, the trustee can take the money.
No, protected
I spoke to my lawyer about it and he said that he has never know the trustee to take the refund in this district. I would advise you to talk with your lawyer, I am sure your case wasnt his first and they should have a history with the trustee.
Sure the trustee is objecting. Because you are making payments on your car, Ransom v. America Bank, means the amount of money you would be required to pay would be less than if you did not have a title loan. The trustee wants you to pay off the loan before you declare bankruptcy.Update: I have not been making the payments - I thought the chapter 13 would be making the payments when I send the trustee my monthly payment. I supposed the questions is: is a title loan considered a secured loan.I would check the lending company to make sure they are getting the payment. I would not assume anything. I simply read Ransom. I do not trust trustees. If you walk in and pay the loan with a piece of paper and get a written receipt and send that receipt to the trustee and keep a copy, there can be no doubt. That way your car can not be repossessed and the trustee can not stab you in the back by not paying your loan. Then when your car is repossessed, he can not take the money that you would have used to repay your loan and have you use it to pay your other creditors.
It depends on the terms of the trust. If the terms permit it, and the trustee agrees, yes. If not, and/or the trustee does not agree, then no.
Discuss this with your bankruptcy lawyer, since the answer may differ from one bankruptcy court to another. I would discourage such a move since it would involve incurring more debt and probably require the approval of the trustee and the court. A "loan" from family would be subject to a trustee claim or objection. Better to take a family loan to pay the balance of the plan, closing the chapter 13.
Depends on the trustee. Some do; some don't.
Money for your plan payment, tax refunds.
The bankrutpcy court can take jurisdiction of almost any case, and the trustee can decide if the settlement is fair. If it is for the benefit of the BK estate, the lawsuit is part of the assets he controls.
No! You must claim more dependants on your paycheck to avoid the trustee claiming your refund. 1500$ is the limit from Fed and State combined. Keep your refund below that amount combined and you will be in the clear. I find it ironic that if you owe the irs any money the trustee does not help out with that but if your refund is good then the trustee will claim it. Hope this helps!
The trustee may take the refund and distribute it to creditors because a tax refund is not considered an exempted asset under bankruptcy laws.
The purpose of trust deeds is to provide security for a loan by establishing a legal framework for the repayment of the loan. Trust deeds outline the terms and conditions of the loan, including the repayment schedule, interest rate, and consequences for default. They also allow the lender (trustee) to take ownership of the property if the borrower fails to repay the loan as agreed.
No they do not take your refund from my experience, but they do take the state refund. If they do take it, you can contact the trustee and ask for it back. I was told as long as the payments were being made every pay period we were okay. Hope this helps
You must review the terms of the trust to determine how a successor trustee can be appointed. The successor can take over the duties of the trustee.You must review the terms of the trust to determine how a successor trustee can be appointed. The successor can take over the duties of the trustee.You must review the terms of the trust to determine how a successor trustee can be appointed. The successor can take over the duties of the trustee.You must review the terms of the trust to determine how a successor trustee can be appointed. The successor can take over the duties of the trustee.