F25Divorced
addict
Reged: 01/03/06
Posts: 575
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So, My bankrucpy went through with no problems....
The thing that sucks for me is the equity I would have gotten from the house. STBX family or GF is buying the house. Now the lawyer I have for the Divorce says I am entitled to half of the equity still. The lawyer I used for the bankrupcy says NO. So, does anyone know the right answer. If I am not entitled to it, can I have him put it straight into a trust fund for our daughter that noone can touch till she is of age??
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Gecko
Carpal \'Tunnel
Reged: 06/01/04
Posts: 19805
Loc: Third rock from the sun
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The thing that sucks for me is the equity I would have gotten from the house. STBX family or GF is buying the house. Now the lawyer I have for the Divorce says I am entitled to half of the equity still. The lawyer I used for the bankrupcy says NO.
---> Not sure I understand. Are you talking about the marital home?
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If you air your dirty linen in public, expect people to comment on the skid marks!
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F25Divorced
addict
Reged: 01/03/06
Posts: 575
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Gecko: Yes it is the marital home......When we went to mediation he agreed to give me 1/2 the equity in it when he refinanced it b/c he is going to keep it. But Im told I am not entitled to it.
What I dont understand, if I filed on it.....When do they go to him and make him do something with it. He has no verifiable income...
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Gecko
Carpal \'Tunnel
Reged: 06/01/04
Posts: 19805
Loc: Third rock from the sun
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When we went to mediation he agreed to give me 1/2 the equity in it when he refinanced it b/c he is going to keep it. But Im told I am not entitled to it.
---> Who told you this? Why did they tell you this?
---> Also, I'm sorry if you have posted this information before, but I don't keep track of people stories...just too many of them.
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If you air your dirty linen in public, expect people to comment on the skid marks!
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F25Divorced
addict
Reged: 01/03/06
Posts: 575
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My Divorce attny says I am entitled to half the equity when he refinances or sells it. He wants to keep it.
My Bankrupcy attny says I legally can not accept the money, it would have to go to the govt for the payback of any debt I filed on.
Gecko.....Its ok, no worries!
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Gecko
Carpal \'Tunnel
Reged: 06/01/04
Posts: 19805
Loc: Third rock from the sun
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Your divorce attorney is correct, you are legally entitled to have the equity in the marital home.
Your bankruptcy is wrong in saying that you cannot "legally" accept the money. Yes you can, but once you receive the equity, you have to turn it over to the BK courts to be distributed to your creditors.
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If you air your dirty linen in public, expect people to comment on the skid marks!
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F25Divorced
addict
Reged: 01/03/06
Posts: 575
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Thanks Gecko....
Where would I go to turn it in and what not. I just wish I was entitled to KEEP SOME..... Yeah know
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Gecko
Carpal \'Tunnel
Reged: 06/01/04
Posts: 19805
Loc: Third rock from the sun
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Where would I go to turn it in and what not.
---> The money goes to the Trustee.
I just wish I was entitled to KEEP SOME..... Yeah know
---> This kind of bothers me, because I'm thinking (from having worked in bankruptcy) that you have been able to keep some or all of your share of the equity under the personal exception clause. Did you file a 7 or 13? Did you "surrender" the marital home?
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If you air your dirty linen in public, expect people to comment on the skid marks!
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F25Divorced
addict
Reged: 01/03/06
Posts: 575
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I filed Chapetr 7 and I thought if it was under 45000 it was exempt?? I did surrender it.
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Gecko
Carpal \'Tunnel
Reged: 06/01/04
Posts: 19805
Loc: Third rock from the sun
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By surrendering the marital residence, you gave up your interest...both assest and liability.
You should NOT have done that since your ex was going to be refiancing. Sounds to me like you got some bad advice from your BK attorney, but understand when I say that, that I don't know everything about your case.
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If you air your dirty linen in public, expect people to comment on the skid marks!
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