Legal Question in Bankruptcy in Arkansas

Personal Property listing in Chapter 7

Hi,

I am filing Chapter 7 myself and so far it is going ok. I just had a stupid question. I know that under the federal exemptions that my VA benefits / payments are exempt. Do I list VA in the personal property or just as income. I have listed it on the exemptions, but was not sure if I had to list it on the personal property list or not. Any help is appreciated.

Thanks


Asked on 2/13/04, 9:47 am

2 Answers from Attorneys
Harvey Harris Harris Law Firm

Re: Personal Property listing in Chapter 7

You need to list it on Schedule I as Current Income.

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Answered on 2/13/04, 11:22 am
Herb Southern The Southern Law Firm

Re: Personal Property listing in Chapter 7

I agree with Harvey about listing it as current income, not property ... But, that brings up an important point. While you have an absolute right to do your own Bcy pro se, it is generally a bad idea because there are so many issues that because of an inadvertant mistake you can cost yourself dearly. At a minimum, you need to have an Atty review your schedules just to keep yourself from making a serious mistake. Schedules I & J are scruteniced very strongly!

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Answered on 2/13/04, 11:40 am


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