Chapter 13 & Pets
Aurora Illinois Bankruptcy Lawyers & Attorneys
Jesse Barrientes: What about other things? I know they look at – they look at your assets. They look at vehicles. They look at pets.
David Siegel: They look at pets.
Jesse Barrientes: For example, if we look at Isabella, is there a little line on there that talks about the value of little Isabella?
David Siegel: Yes. But they don't want your pet. They don't want your domestic pet.
Jesse Barrientes: Well, what are they looking for, Dave?
David Siegel: What they're looking for are farm animals, horses, things that have value. In certain parts of the country people file bankruptcy and they do have significant livestock, whether it be cattle, pigs, cows. I'm not a farmer, Jesse, so I don't really know. But where we practice here, the only kind of animal you're gonna see is the domestic kind sitting on my lap.
Jesse Barrientes: Or horse. Or a racehorse. Let me ask you this. I mean there are breeds of canines that are show dogs and you can pay, you know, $20,000, $30,000. You know, unless he or she can type and answer the phone I don't know if I'm particularly interested in that but in a situation like that where you have a pedigree, are they gonna take my dog? Not in a Chapter 13 I understand.
David Siegel: No, they're not gonna take your dog. In fact, I've never seen a trustee even show an interest in a dog to any extent. The only interest in animals, again, would be some kind of racehorse that had value, maybe that was inherited from a father or a mother or if there are significant livestock. You know, a group of cattle, a group of cows, a group of pigs. That's the only time it would ever be a problem.
And, again, I wouldn't advise someone to file if they did have that kind of equity in animals. But they do have to be disclosed. It is part of the bankruptcy petition. And, again, I believe that's because in other parts of the country livestock and animals are more prevalent than in Illinois and Chicago.
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See Also:
Chapter 7
Misconceptions about Chapter 7
Life after Chapter 7 bankruptcy
Privacy is protected in bankruptcy
Household income qualifications
Converting Chapter 13 to Chapter 7
Converting Chapter 7 to Chapter 13
Chapter 13
Using Chapter 13 to save a home
Choosing Chapter 13 versus Chapter 7
Debt consolidation & late fees
Administrative fees & the bankruptcy trustee
Chapter 13 payment plan dismissal
