Legal Question in Bankruptcy in Pennsylvania

I have lost my job and have a creditor seeking a judgment, which it will get, and access to may already small bank account. I have a tax return that I would like to file for and live on while I look for a job. I want to take the federal bankruptcy exemptions. I understand that I can exempt up to $10,825 of any property because I will not use the homestead exemption. My question is can I use the wildcard exemption if I do not own my home?

* unused portion of homestead to $10,825 may be applied to any property


Asked on 1/03/12, 1:35 pm

2 Answer from Attorneys
Michael Duffy Duffy Law, LLC

Yes, you can use the remaining amount from the homestead exemption to apply towards general property, or as a "wildcard" exemption.

If you would like to discuss your matter further over a free and confidential phone consult, please contact me at your convenience.

Regards,

Michael J. Duffy, Esq.

Duffy Law, LLC

1-888-414-5773

www.mduffylaw.com

1500 Market Street

12th Floor, East Tower

Philadelphia, Pennsylvania 19102

52 Berlin Rd.

Suite 3000

Cherry Hill, NJ 08034

[email protected]

Please note: The information provided here is for general informational purposes only and should not be construed as legal advice or legal opinion on specific facts or circumstances. You should consult an experienced attorney concerning your particular factual situation and any specific legal questions you may have. No attorney-client relationship is created merely through the exchange of information via this web site. Michael J. Duffy will not undertake representation of a client without the client first signing a written retainer and representation agreement.

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Answered on 1/03/12, 1:51 pm


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