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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am hoping I can ask a multipart question here..We are preparing

Customer Question

I am hoping I can ask a multipart question here..We are preparing to file chapter 7 and need to protect some much money can we put into 401K (each)to use for our future? Also we have an older RV that we are going to have to use to move to MO and live in after we file chapter 7 and want to know how we can save husband uses it right now for work in the summer,as we live in a town about 25 miles from where he works and he parks it at the work place so it will be there for him to stay in when he has to do night poors or has to be back to work early in the morning after putting in a long day. Also my husband has a co-worker that will buy the RV and still let him use it at the plant and then sell it back to us once we get ready to move. We would put the money from the sale into a 401K and then use the money from the 401K to buy it back. Can we legally do this and will the court except this as discharging a assest?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

I can assist you if you split up your questions. You can then assign a price to each question individually.
Customer: replied 7 years ago.
okay I will split the questions
question one is how can we keep our older RV so that we can use it to move and live in after we file chapter 7? My husband uses it for work to stay in when it is not feasible to come home since we live 25 miles away from his work place and he sometimes works at night then as to be back early the next morning. Also a co-worker said he would buy it from us let us put the money in a 401K to keep it safe then buy it back sometime after the bankruptcy so we can use it to move to MO and live in until my husband finds work. We really need to find a legal way to keep the RV
I will post the other questions seperately
Expert:  Ellen replied 7 years ago.


Thank you for your question. I am happy to assist you.

If you are living in the RV, Oregon law provides an exemption for up to $30,000 in value in the mobile home. Oregon Statutes 23.164, 23.240, 23.250. Therefore, if you properly claim the RV as your homestead, instead of the manufactured home that you will be giving up, you do not have to sell it.

I hope that the information which I provided was helpful to you.

I will look for your other questions.

Thank you,

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