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My wife accumulated a lot of credit card debt and now she

wants to file chapter 7...
My wife accumulated a lot of credit card debt and now she wants to file chapter 7. How will this relate to me and my assets, inclufing my home which I bought ling before we were married and is only in my name? I'm afraid they will try to go after my sssets.
JA: What state are you in? And has anything been officially filed?
Customer: California and no, nothing has been filed
JA: Has anything been filed in civil court? If so, what?
Customer: Nothing
JA: Anything else you want the lawyer to know before I connect you?
Customer: Is there a charge
JA: You just pay a $5 deposit now and the rest only when you get a reply from the Bankruptcy Lawyer. All of this is 100% satisfaction guaranteed, so you can get a refund if you're not happy for any reason.
Customer: Ok. I also have another question on the same topic
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Answered in 8 minutes by:
3/7/2017
DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
Satisfied Customers: 909
Experience: Attorney at Drake Law Firm PLC
Verified

Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.

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California is a community property state so anything purchased during the marriage will become property of the bankruptcy. Your house that was purchased prior to marriage is separate property by law and will not be included in the marital community property going into the bankruptcy estate.

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Customer reply replied 9 months ago
if she files for chapter 7, will they require any of my assets, such as my Industrial Disability Pension? She says they want to know my income, but I'm not sure how this will affect me.

Yes, but some assets are exempt. For example, pensions are exempt. They want to know your income to see if she qualifies to file chapter 7.

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Customer reply replied 9 months ago
Final thought, Ok, so is there a threshold for a number, how much or how will my disability of income 49k a year affect her case? Thanks for the info.

Is it Social Security disability?

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Customer reply replied 9 months ago
No, it's Cal Pers Industrial Disability retirement and its non taxable.

This chart shows the median incomes for California. The income needs to come under this amount, but it is tricky because you get to deduct mortgage and other secured payments and various other deductions. The Means Test for determining eligibility has a lot to it. I am having trouble finding out if CalPERS income is exempt quickly. I will keep looking.

DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
Satisfied Customers: 909
Experience: Attorney at Drake Law Firm PLC
Verified
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Category: Bankruptcy Law
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