Legal Question in Bankruptcy in Minnesota
$11,525 of household goods, furnishings and appliances, provided that no single item is valued at over
What does household goods means, can you take a non-exempt asset say cash, and buy an exempt asset, say a $10,000 worth of books at your local bookstore. all differnt titles.
Asked on 11/08/10, 3:14 pm
1 Answer from Attorneys
David Kelly-952-544-6356
Kelly Law Office
Bad idea. I would be concerned that anything that manipulative would be considered fraud. Some bankruptcy planning might be OK, but you can't be a pig about it.
Bankruptcy fraud is a felony. I bet Denny Hecker would like the company though.
Answered on 11/15/10, 3:35 pm
Related Questions & Answers
-
I cosigned on a student loan and the person has defaulted on the loan they are... Asked 11/03/10, 6:40 pm in United States Minnesota Bankruptcy Law
-
I want to file a chapter 7 for my business but all the debt is basically unsecured... Asked 10/05/10, 12:48 pm in United States Minnesota Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
