Bankruptcy

[Max E.]

Quote from Free Thinker:

to file bk you have to make a list of all your assets for the court. do you want to lie to a judge?

I would never think of lying in court, the American court system is the beacon of honesty. From what i have heard nothing but the truth is able to go through the U.S. legal system.

 

[morganist]

Quote from Vinny1:

How can you have your debt reinstated if you wiped it away in a bankruptcy? Isn't the point of bankruptcy to wipe away your debt?

No the point of bankruptcy is to seek the best possible way of settling debts. The Official Receiver can take up to sixty percent of your income for three years even when you are declared bankrupt.

 

[Vinny1]

Quote from morganist:

No the point of bankruptcy is to seek the best possible way of settling debts. The Official Receiver can take up to sixty percent of your income for three years even when you are declared bankrupt.

Can they take social security income, disability income, or unemployment compensation?

Can they take an inheritance?

 

[ddaytrader]

Quote from Vinny1:

Can they take social security income, disability income, or unemployment compensation?

Can they take an inheritance?

You need a lawyer - get off the internet and get yourself one.

 

[morganist]

Quote from Vinny1:

Can they take social security income, disability income, or unemployment compensation?

Can they take an inheritance?

In England they can only take non essential income.

There are protections for pensions.

 

[high99]

Quote from Vinny1:

Can they take social security income, disability income, or unemployment compensation?

Can they take an inheritance?

No, no, no, yes.

 

[morganist]

Quote from high99:

No, no, no, yes.

The safest protection against bankruptcy is pensions.