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From what I heard, you can’t file for bankruptcy and keep a house…? I dunno, I don’t understand any of it… my parents are the ones dealing with all the crap, I don’t get it. 😕
Bankruptcy is the only way to save a house in your situation. It’s that way in Minnesota. You file bankruptcy and they can’t take away your house. However, I think it differs, depending on the state you live in.
I think it’s like, if you own so much stuff worth over a certain amount of money they won’t let you file. Something like that… here anyways. I think. o.o;
PaperCut wrote:I think it’s like, if you own so much stuff worth over a certain amount of money they won’t let you file. Something like that… here anyways. I think. o.o;
They can’t take your residence, they can take everything else, which is why I suggest selling the rental house, then filing bankruptcy.
If anything, the sale of the rental house will help pay off a few debts and might make it possible to avoid needing to take the bankruptcy option altogether.
I have several friends who have had to file bankruptcy to save their house…biggest thing is to have no other assets.
So sell the assets you can, as quickly as you can, and then protect your home with the bankruptcy asap.
Kyrin
I dunno, my dad says you can’t file for bankruptcy and keep any house. *shrugs* I don’t get it, but… 😕
That’s weird, because here in Ontario, if you file bankrupcy, they can’t take the house from you either.
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http://www.sarahjestin.com/feedbacklists.htmWe did file for bankruptcy here in the states. They can’t take your house, or your vehicle. I was worried about my horses too, but hey didn’t want them. Unless you have something of REAL value they usually just tax you for the loss at the end of the year.
I’m not posting much anymore BUT I have learned that IF they allow you to file Bankrupt they can not taks your primary residence that you are living in but any rental proterty will have to go since they consider ti an assett. I know they have changed the laws in CA DRASTICALLY with how mnay are just tossing in the towel so to speak.
I’m doing eveything I can to avoid it myself, but no one here wants to hear about that, so I will shut back up again nowDragon Master wrote:I’m doing eveything I can to avoid it myself, but no one here wants to hear about that, so I will shut back up again now
Have to be honest here – I’m feeling really frustrated and annoyed reading this. I just re-read the other thread and, taking out the argument, people were making positive suggestions and extending their well wishes. NO ONE said anything about not wanting to hear about it – but possibly you didn’t want to hear the suggestion people made. Which is that it might be time to resell some of your Windstones. That doesn’t translate into not wanting to hear about your problem. I think several people have been and continue to be supportive of you. But, honestly, you are making it really tough with comments like that one.
I dunno what’s gonna happen. I’d have to talk to my dad but I don’t think he knows either. 😕
Updated, added small winged spirit wolf and pyo kirin.
ddvm wrote:Dragon Master wrote:I’m doing eveything I can to avoid it myself, but no one here wants to hear about that, so I will shut back up again now
Have to be honest here – I’m feeling really frustrated and annoyed reading this. I just re-read the other thread and, taking out the argument, people were making positive suggestions and extending their well wishes. NO ONE said anything about not wanting to hear about it – but possibly you didn’t want to hear the suggestion people made. Which is that it might be time to resell some of your Windstones. That doesn’t translate into not wanting to hear about your problem. I think several people have been and continue to be supportive of you. But, honestly, you are making it really tough with comments like that one.
I agree with ddvm. I’m getting a little tired of hearing how ‘nobody wants to hear it’ or some other off putting remark. People have been more than supportive of you, DM, but it’s obvious that they’re offering suggestions you don’t want to hear.
You need money? Offload some pieces like Papercut is doing. You’d better believe that where I in your situation, the Windstones are the only real thing of value I have that I can turn loose of, and they’d be the first things to go.
(sorry about the thread hijack, PaperCut. I wish I had something to offer you, but I’m a little strapped myself and AmEx doesn’t need to make any more in interest on me.)
Dragon Master wrote:
I’m doing eveything I can to avoid it myself, but no one here wants to hear about that, so I will shut back up again nowI have to agree with ddvm and rusti. I was trying to be supportive of you (and even growled at Snap for making some rude, if a bit justified comments). Hearing this really doesn’t make me want to be supportive anymore, it’s too much effort to be supportive when they don’t appreciate it.
Sorry for hijacking the thread, I hope we can get payment worked out there, Papercut. I really want that cat’s cradle… stupid money orders… >.<
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