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Bankruptcy
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$$et$ Defined

Assets are what the Bankruptcy Code considers "property of the estate" (11 U.S.C. sec. 541).  Once you file a Chapter 7 Bankruptcy, things you own become property of the bankruptcy estate.  If you don't have an exemption to apply to an asset, then the bankruptcy trustee has the option to do one of the three things with that asset:   1)  confiscate the asset and attempt to sell it

to obtain money to pay your creditors;  2)  allow you to "buy back" the property by paying the trustee the fair market value of the property; or 3)  determine that the asset has little or no value and allow you to keep it without recourse. (Handbook for Chapter 7 Panel Trustees). Assets include any property which you do not own at the time of filing your bankruptcy petition but have an expectation of ownership within 180 days of filing bankruptcy, such as property that has been willed to you by a person who has recently died or a remainder interest in real property. (11 U.S.C. sec. 541(a)(5)). All of the following are considered assets or "property of the estate":​​

 

1.

Your House & Everything In It​

 

2.

Anything in Storage or Held for You by Someone Else​

​

3.

Any Vehicle Listing Your Name on the Registration or Title,

Including Cars, Boats, Golf Carts, ATV's, Planes and RV's

 

​4.

Money Held in Any Account With Your Name on It, Including Bank Accounts,

Certificates of Deposite, PayPal, Bit Coin Accounts, Money Market Accounts,

Stock Investments & Retirement Accounts.​

 

5.

Cash on Hand Not Held in an Account,  Bonds and Safety Deposit Box Contents​

 

6.

Your Interest in Any Real Property and the Income Generated By Any Real Property,

Including Your Home, Rental Property, Easement Interest, Time Shares & Mineral Rights;

This Includes Any Items Stored in or on the Property to Which You are Titled​

 

7.

Your Interest in Any Business Entity​

 

8.

Intangible Property Such as Copyrights and Patents

as Well as Any Income Generated by the Intangible Property​

 

9.

Anticipated Lawsuit Proceeds, Tax Refunds, Inheritance,

Trust Distributions, Real Property Transfers, & Sale Proceeds​

 

10.

Property Transfered by You Before Your Bankruptcy

That is Determined to Have Been Fraudulently Transferred

 

​​​11.

Community Property (this does not apply if you have

lived in Florida at least 2 years before filing bankruptcy

The information provided in this website and  blog page is intended for informational purposes and should not be construed as legal advice.  You should never rely solely on websites for legal information or advice and contact a licensed attorney with any questions you may have.

The Law Office of Heather A. Harwell, PLLC is a Federally designated debt relief agency which defends consumers and files suits on behalf of consumers pursuant to various Florida and Federal laws, including bankruptcy under Title 11.  The Law Office of Heather A. Harwell, PLLC handles Consumer Bankruptcy, | Chapter 7 Bankruptcy, Debt Defense Against Credit Card Lawsuits by Original Creditors  including American Express, Discover, T.D. Bank, Synchrony Bank, Capital One Bank, Credit One Bank and others;, Debt Defense Against Credit Card Lawsuits by Debt Buyers including Midland Funding, LLC, Portfolio Recovery Associates, LLC, LVNV Funding, LLC, and others; Debt Defense Regarding Automobile Repossession Deficiencies; Debt Defense regarding Foreclosure Sale Deficiencies; Garnishment Defense, Credit Reporting Issues, Lawsuits against Creditors & Debt Collectors violating Fair Debt Collection Law violations, and Appeals regarding Debt, Credit and Violations issues in the U.S.M.D. of Florida, Hillsborough County, Hernando County, Pasco County, Wesley Chapel, Zephyrhills, Spring Hill, San Antonio, Trinity, North Tampa, New Port Richey,  Lutz, Land O Lakes and surrounding areas.  EVERY CASE IS DIFFERENT.  The information provided in this website is meant for general informational purposes only and should NOT be construed as formal or comprehensive legal advice.  Visiting this website and/or referring to its content does not create an attorney-client relationship.  The attorney provides a no-contact consultation via telephone or video regarding Chapter 7 Bankruptcy, Debt Defense,, Debt Collector Violations, Debt Settlement, Debt Negotiation and Garnishment / Attachment Issues.

Office:  Wesley Chapel, Florida

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