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What else can I help you with?
If you have assets in your home can you be force to sell it if you file bankruptcy?
If the value of the assets greatly exceed the allowable exemptions, then yes they can be seized.
Can a bankruptcy trustee sell assets not owned but being used or leased at the time of filing?
No.
Can you sell personal property when filing bankruptcy?
When filing bankruptcy all assets are placed in a bankruptcy estate. Some assets are allowed to be protected and qualify for an exemption by the trustee. Items that are placed in exemption are permitted to be sold, but the trustee should be notified prior to the sale.
Can you sell your personal assets before bankruptcy?
Yes you can as long as the money made from the sale isn't spent on holidays and the like, it has to be spent on day to day living expenses or declared to the official reciever.
What does a trustee do in Chapter 7 bankruptcy proceedings?
In Chapter 7 bankruptcy proceedings, a trustee is responsible for overseeing the liquidation of the debtor's assets to repay creditors. They review the debtor's financial information, sell non-exempt assets, and distribute the proceeds to creditors.
Can one sell property after the trustee has indicated what assets must be liquidated?
If you are in the midst of a bankruptcy proceeding the title to all your property is in the trustee. You can't sell any property. You should direct any questions to your attorney or to the trustee in bankruptcy.
Can you file bankruptcy on a loan for a vehicle?
Probably yes. The reason for the "probably" is that you don't file bankruptcy on specific loans... you file bankruptcy in general, and it applies to most debts (there are certain types of debts that are not dischargable in a bankruptcy). Note that if you do file bankruptcy, you may have to sell the vehicle. In bankruptcy you are often required to sell certain assets in an attempt to at least partially pay off your creditors; you're allowed to keep a certain amount of equity in a vehicle specifically, and a certain amount in "general assets" (which can be applied to a vehicle or to cash or other personal property), but if the vehicle is worth more than that, you would have to sell it.
What is a no assets chapter 7 bankruptcy?
This means you walk away with no assets. Meaning, if you have 2 cars and $100,000 in debt, after the bankruptcy, you give the cars to the court and they sell them to (partially) repay your debtors. In other words, you walk away with no assets and no debt. The court will do their best to find all of your assets, cars, house, etc. Anything they can find to sell.
Can a idividual sell a ATV included in a bankruptcy?
Yes, an individual can sell an ATV during bankruptcy, but there are important considerations. If the ATV is not exempt under bankruptcy laws, the bankruptcy trustee may require its sale to pay off creditors. Additionally, the individual must disclose any sale of assets in their bankruptcy filing. It's advisable to consult with a bankruptcy attorney to understand the specific implications and requirements.
Can a company buy back its assets after bankruptcy?
Sold is sold...so if the new owner wants to sell, sure..ut there is no right to.
What assets can be taken with a Florida deficiency judgments for foreclosed property?
Whatever they can sell to reclaim their losses. You may need to proceed with bankruptcy to protect other assets. Consult an attorney for specifics.
You own a one fifth fraction of a cabin can you loose that in bankruptcy?
Yes. It is an asset. It may have value. The bankruptcy court has the right to sell off most all of your assets to settle debts. Certain assets are protected or otherwise not subject to a sale as you will still need some basics. The laws for bankruptcy do vary by state so check with a bankruptcy attorney if you need precise answers that apply in your specific situation.
