Legal Question in Bankruptcy in Texas

How am I effected if ex files?

I am recently divorced and my ex was awarded all credit card debt (approximately $100K). I was awarded the house, the car, a large work shop, and a classic car collection. All of the things I recieved are in both of our names. If he files chapter 7, am I in danger of losing what I received in the settlement? Thank you for your assistance!


Asked on 11/04/04, 11:36 am

1 Answer from Attorneys
Andrew Nichols Law Office of Andrew B. Nichols

Re: How am I effected if ex files?

If your ex lists all of these assets in his bankruptcy paperwork then you may have some difficulties. Only certain propery can be exempt (kept by the filing party) from forced sale. I think if the Trustee assigned to the case discovers several "classic cars" they would be investigated. Basically, from the creditors point of view it might be looked upon as a questionable transaction to award all of the valuable assets to you and then a few months later declare bankruptcy on all the debts.

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Answered on 11/04/04, 5:31 pm


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