QUESTION
After bankruptcy, how soon can I have assets and not worry about the trustee taking them?
Asked on Apr 03rd, 2013 on Bankruptcy - Arizona
More details to this question:
After bankruptcy, how soon can I have assets and not worry about the trustee taking them?
6 ANSWERS
I guess it depends on what you mean by "after bankruptcy." If you mean after discharge, then the answer is right away. If you mean after filing bankruptcy (while it is ongoing) then it depends on the type of bankruptcy and what asset you are talking about.
Answered on Apr 03rd, 2013 at 5:42 PM
You can have assets immediately after filing bankruptcy as long as you obtain the assets by purchasing them through legitimate sources, such as your wages.
Answered on Apr 03rd, 2013 at 5:41 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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You can acquire assets after bankruptcy. The trustee has control of your assets acquired before bankruptcy.
Answered on Apr 03rd, 2013 at 5:41 PM
2 Awards
You can have assets while in bankruptcy. Nevada law allows some asset to be kept from liquidation. I advise you to contact an attorney to review what assets you have and whether there is any exposure to losing them through bankruptcy. Certainly, any assets you acquire, with limited exceptions, after filing are yours to keep.
Answered on Apr 03rd, 2013 at 5:41 PM
Bankruptcy Attorney serving Walnut Creek, CA
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Alan E. Ramos Law Offices
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Generally, you should have no problem after bankruptcy. Assuming that there has been no objection to your claimed exemptions, your exempt assets are yours. If you acquire property after bankruptcy, those assets are not part of the bankruptcy estate and there should be no problem. However, if you did not disclose assets, or transferred those assets prior to bankruptcy and reacquired them after discharge, there could be a problem.
Answered on Apr 03rd, 2013 at 5:38 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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I assume you filed a chapter 7 and do not have an attorney. You can use your post-petition income to purchase whatever you like.
Answered on Apr 03rd, 2013 at 5:37 PM