Legal Question in Bankruptcy in Indiana
Pre-filing questions for Chapter 7 Bankruptcy
1. How do I find out if a student loan between 4-5 years old is dismissable. 2.Is cash value of a life insurance policy (approx. $1,000) safe from creditors. 3. I bought a computer 1 month ago with the cash from my life insurance policy(my husband didn't cash his). Can I keep my computer for business, or can I transfer the sale of my computer to my business before I file.
1 Answer from Attorneys
Bankruptcy questions
1. As to the dischargeability of a 4-5 yearold student loan, it is not dischargeable. Unless you can make a compelling hardship case,student loans are not dischargeable for 7 years.
2. Is $1000 c.v. of life insurance safe? Itdepends on whether you can exempt it and, if not, on other factors like how aggressive the trustee is. Exemptions are governed by statelaw.
3. Can you keep the computer? Same as aboveas to the life insurance. Any transfer without full payment is voidable.
You need to discuss these issues with a bankruptcy lawyer in your area. Don't eventhink of filing bankruptcy without a lawyer.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
