cagueits

Does bankruptcy prevents you from owning firearms? I haven't been able to find anything on the subject.

Someone I know might be filing for Chapter 7. That person is worried about being ordered to sell the two cheap firearms used for self defense (read a Glock and a S&W J-frame) in order to repay some of the debt. Anyone knows if this can be ordered by the court? (I've been browsing through the exempt property list but can't find firearms listed on it)

Thanks

SIXTO

I dont think they can, but I dont know much (or anything) about the subject. How would they even know he has them, unless he tells them?

__________________
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Wake Up! The zombie invasion has begun years ago.

Maverickx50

depends on their value. then again who's to know? unless your filing and listing your x you should be safe. After BK is done go get as many as you can afford. Cash only credit will not be worth a darn.

cagueits

Line # 8 of schedule B (form B6B) specifically asks for firearms owned. Link to form on .gov server:

http://www.uscourts.gov/rules/Revise...K_Form_B6B.pdf

Omitting the info is a felony under 18 USC Sec 152.

SIXTO

He could sell them to a trusted friend for a dollar...

__________________
In a land of sheep, even a toothless wolf is king.

Wake Up! The zombie invasion has begun years ago.

denverd0n

Actually, doing that sort of thing immediately before filing bankruptcy can get you into a lot of trouble.

For a Chapter 7 bankruptcy it is certainly possible that they would require him to sell firearms. The idea with Chapter 7 is that you sell everything you can do without, distribute the money among your creditors, and that's the end of it; you owe them nothing more after that.

If the judge buys into the notion that he needs a gun for self-defense then there's a good chance he will be required to sell all but one. He will almost surely be required to sell any guns that have significant collectors value. There is also, of course, the possibility that the judge will NOT believe that he needs a gun for self-defense and require him to sell all of his guns. You just never know until you get before the judge.

Rob72

How tight is the situation? Can you (or someone trusted) give him $200. A sale for $100/each is credible, particularly if it is a question of paying utilities or creditors.

Chapter 7 is pretty nasty, and our wonderful Gvt. subsidised the banks by tightening the filing requirements, allowing the banks to show "collections" on the books, not "defaults". Regardless of the fact that the banks shouldn't be making roughly 30% of the loans they approve. Our Representatives in action.

jualdeaux

They might not make him sell them. If the value of the firearms is peanuts to what he owes they may not even care. And it definitely wouldn't be worth the hassle of tracking all his friends down to ask them such questions.

MR D

It depends upon the state laws-

IIRC in Ohio you may keep a rifle and a shotgun (exempt)

just like in FL O.J.'s primary residence is judgment proof - Ron Goldman's family cannot force him to sell it to satisfy their 33 million dollar judgment...

Each state has different exemptions in bankruptcy - tell him to ask his lawyer...

kd5nrh

Definitely a question for a lawyer, but if he actually paid money for a Glock, I can see why he's bankrupt.