Wellsville, NY Bankruptcy Law Firms & Lawyers

There are too many different variables to answer the question of what will happen to specific assets, as it currently is asked.  It depends on numerous factual issues.   You should consult a local bankruptcy attorney because each state has unique exemption laws and a local attorney can determine what assets can be exempted.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.

I don't think it matters that the money from the account is from SSI. Once it is in the account, it is treated as any other bank account. If a debit card was used with your authorization, then the account can be debited. If it was without your authorization, you can probably dispute the transaction (your bank can probably help you do this) and possibly have the debit reversed. However, you may have to file a complaint against your common law husband for credit card fraud. You can't have it both ways, claim it was unauthorized, be then not press charges for the unauthorized use.

Based on the information provided, I cannot advise you if this is a good time. Is your home paid for? If not, how much do you owe on it? The amount of equity would determine if you can use Texas or federal exemptions. Additionally, if you are in Texas, you may have some non-exempt assets (brokerage account and stock) that the Trustee could ask you to turnover. How much is the debt you owe on the account you are being sued on? Sounds like you could negotiate a settlement with them.