selling liens before filling
Hi there
I am thinkling about filing chap 7th on february, right now I am in need of some money and i was thinking about selling my computer that i purchased using a line of credit from MBNA, would that affect my bankrupcy case?
Thanx
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Read More Answered By: Scott R. Jay |
Re: selling liens before filling NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then you are instructed to stop here, and do not read any further.
The answer is a qualified maybe. If the Trustee at the Section 341 Hearing/Meeting of Creditors believes that the computer was purchased in an attempt to defraud a creditor, the Trustee may require you to pay back those monies which you owe to the Creditor. Alternatively, if you can convince the Trustee that the computer was sold as a necessity to meet normal living expenses, you may be home free.
I strongly suggest that you consult with a bankruptcy attorney in your area to review this and all other legal questions regarding this matter.
Scott R. Jay, Esq. 305-249-8000 |
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