Bankruptcy and Vacations Minneapolis, Minnesota
You may wonder if filing bankruptcy and taking a vacation will have any consequences. When you file bankruptcy, you must list all your assets. This includes assets that you own, those you will receive in the future, and even items you have already paid for, such as vacations. You can list prepayments in a section of the asset schedules for your case. Your attorney will likely list your pre-paid trip here. Your attorney will determine if the vacation has any non-exempt value based on the type of exemptions that you are using (state, federal) and the amount it is worth. If you have a planned vacation and are currently in bankruptcy, you might wonder if you still can go. You can go on vacation if you are in an active bankruptcy. However, you should consult your attorney to ensure that there are no dates when you will need to attend an hearing or other events. Your 341 hearing is usually (but not always), the only hearing that you will have to attend. It is held about a month after filing your case.
If your bankruptcy case includes a timeshare, you must list your intentions with the timeshare. You can list, for example, whether you plan to surrender the timeshare or keep it. Your attorney will consider the cost of maintaining your timeshare, and will give you advice on whether to keep it or surrender it.
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If you have questions about bankruptcy and would like to do a free consultation to go over your options, visit
www.lifebacklaw.com
to speak with an attorney. You will be glad that you did! https://www.youtube.com/watch?v=mNn2gr-1Xuo
