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Ellen
Ellen, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy Lawyer. Experienced.
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Hi. I am going bankrupt, probably. I have a country club membership

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Hi. I am going bankrupt, probably. I have a country club membership that i paid $75K for. It is not transferable or resellable. Is that somehow subject to seizure by ceditors in a bankrupacy. Also, can the creditors take riding lawn movers, Zena leather coats and clothes, and a flat screen TV. As 'Tools of Trade" I have two pro class trumpets and tons of sheet music which cost several thousand dollars. I teach trumpet for a living. I live in but do not own the house, my wife does. I have to be a "householder" to have tools of trade exempt in Virginia. What of the above can the judge award the creditors?
Hello,

I am the JustAnswer expert that will be helping you today. I am a lawyer with 25 years experience. Although I am not your attorney, I hope that I can give you helpful legal information.


I live in but do not own the house, my wife does. I have to be a "householder"


Here are the exemptions for Virginia:
http://www.bankruptcyinformation.com/VA_exemp.htm

"Householder" means any resident of Virginia -- see statute:
http://law.justia.com/virginia/codes/toc3400000/34-1.html

Thus you must be a resident of Virginia to claim the exemptions.


I have a country club membership that i paid $75K for. It is not transferable or resellable. Is that somehow subject to seizure by ceditors in a bankrupacy.
Likely not as it would not have a value to a third-party

Also, can the creditors take riding lawn movers, Zena leather coats and clothes, and a flat screen TV.
Clothing to $1000 and Household furnishings to $5000 is exempt

As 'Tools of Trade" I have two pro class trumpets and tons of sheet music which cost several thousand dollars. I teach trumpet for a living.
Tools, books and instruments of trade are exempt to $10,000 if needed in your occupation or education


Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


Thank you,
FLAandNYLAWYER
Ellen and 4 other Bankruptcy Law Specialists are ready to help you