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Bankruptcy Law/Indiana's Definition

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Expert: - 4/17/2007


Question

Thank you very much for all your advice up to this point - you have been extremely helpful.  I did use the Indiana Wildcard Exemption and the trustee assigned to my case has objected stating that she thinks an income tax refund is an intangible asset and the wildcard exemption would not apply.  Since, I'm sure you have more resources available to you because you have access to all the law books don't the public does not, could you please see if you have anything that states Indiana's definition of what is a tangible asset versus a intangible asset and either give me the source info or e-mail it to me at adavis112478@yahoo.com

Also - I am not sure where you located but would you possible interested in representing me in this matter and if so what would you charge? - Thanks again for your help.

Answer
Here is another approach that you might consider. Indiana has and exemption for 75% of unpaid wages. Try using that! I would argue that the refund represents money you earned, but was "unpaid" because it was withheld and not given to you! So, $225 should be allowed as exempt under that catagory. Let me know how it finally works out. I would also be claiming this, jointly along with the "wild Card". Keep in mind the $100 exemption for "intangibles" does not cover money owed to you...all the more fodder for the argument that that money owed is tangible, not intangible.

See:

WAGES
Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors
24-4.5-5-105  

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Los Angeles Bankruptcy Lawyer Leon D. Bayer

Expertise

Leon Bayer has successfully represented clients in bankruptcy for over 30 years. He is frequently called upon by the media, the California Bar and other associations to provide insight and help educate attorneys on bankruptcy issues. If you or other readers want to keep up with my blog postings about life in and out of bankruptcy, you can follow my blog at http://www.bankruptcyblogger.org/ and my personal web site at http://www.debt-relief-bankruptcy.com and A Human Guide to Bankruptcy at http://www.thebankruptcyguide.net/ Leon also writes about bankruptcy law for Nolo, see http://www.nolo.com/law-authors/leon-bayer.html and his "Ask Leon" bankruptcy law blog column at http://blog.nolo.com/bankruptcy/

Experience

Leon is a Certified Specialist in Bankruptcy Law by the State Bar of California, and has been a practicing bankruptcy lawyer in Los Angeles, California for 33 years.

Organizations
National Association of Consumer Bankruptcy Lawyers, California Bar Association, Los Angeles County Bar Association.

Publications
Author, ?The Essentials Of Chapter 13,? Daily Journal Report, December 18, 1987.
Contributing Editor, Basic Bankruptcy, California Practice Handbook, Matthew Bender 1992, 1993.
CEB Consultant, CEB-Personal and Small Business Bankruptcy Practice in California, 2003.


Education/Credentials
B.A., J.D.

Awards and Honors
President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory
Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000

MR. BAYER SAYS: The big banks and credit card companys have been working overtime for many years to undermine the Consitutional right of the American people to be able to claim bankruptcy protection. In 2005 the banking lobby successfully convinced Congress and the President to make the laws and proceedures more complicated, hopeing that it will stymie legitimate people from filing bankruptcy. They succeeded in gaining these complex new legal proceedures by greasing the legislative system with hundreds of millions of dollars in "campaign contributions." The good news for the American people is that while the new laws have made the proceedures needlessly complex to the point where inexperienced people can't help but trip over the maze of new rules and regulations, the process is still doable, especially with a lawyer who is well trained and experienced in this specialty.

Past/Present Clients
I have probably handled something on the order of about 15,000 bankruptcy cases thropughout my career.

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