Bankruptcy & My Guns

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Re: Bankruptcy & My Guns

Postby hammAR on Tue Jan 04, 2011 5:41 pm

Sell them to someone with the agreement that you will be buying them back..


I fully believe that this will work under the exemption clause, but a bankruptcy trustee can recover assets transferred within one year of the bankruptcy filing where the debtor did not get reasonably equivalent value for the asset, or where the transfer was made with intent to hinder creditors. There is also a "look back" period of 1 year whereby the bankruptcy trustee may recover assets previously disposed of and such action may lead to the denial of your discharge (11 U.S.C. 727).

IANAL, but if you haven't already, you need to engage one ASAP ......... :o
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Re: Bankruptcy & My Guns

Postby Pat Cannon on Tue Jan 04, 2011 6:08 pm

hammAR wrote:IANAL, but if you haven't already, you need to engage one ASAP ......... :o

Did that, they're telling me not to listen to you guys. ;)
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Re: Bankruptcy & My Guns

Postby hammAR on Tue Jan 04, 2011 6:12 pm

Pat Cannon wrote:
hammAR wrote:IANAL, but if you haven't already, you need to engage one ASAP ......... :o

Did that, they're telling me not to listen to you guys. ;)


That is fair................ :cheers:
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Re: Bankruptcy & My Guns

Postby Dave Pendleton on Tue Jan 04, 2011 6:16 pm

Pat Cannon wrote:
hammAR wrote:IANAL, but if you haven't already, you need to engage one ASAP ......... :o

Did that, they're telling me not to listen to you guys. ;)


Well, you did ask.

I'm not suggesting you sell them for pennies on the dollar. Figure out what they're worth and base the transaction on that.

I'm not a lawyer either, just trying to be helpful.
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Re: Bankruptcy & My Guns

Postby Pat Cannon on Tue Jan 04, 2011 7:30 pm

Dave Pendleton wrote:
Pat Cannon wrote:
hammAR wrote:IANAL, but if you haven't already, you need to engage one ASAP ......... :o

Did that, they're telling me not to listen to you guys. ;)


Well, you did ask.

I did indeed, and I want to repeat very seriously that I appreciate everybody's input.
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Re: Bankruptcy & My Guns

Postby goalie on Tue Jan 04, 2011 7:51 pm

IIRC, you were shooting a Ruger GP100 at the steel shoots, right?

Come Spring, let me know if you want to borrow mine for any shoots if you are still "without." It's a 4" model with a fiber-optic front-site installed.

:cheers:
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Re: Bankruptcy & My Guns

Postby Pat Cannon on Tue Jan 04, 2011 7:59 pm

goalie wrote:IIRC, you were shooting a Ruger GP100 at the steel shoots, right?

Come Spring, let me know if you want to borrow mine for any shoots if you are still "without." It's a 4" model with a fiber-optic front-site installed.

:cheers:

Thanks man! I don't expect be without, though. Besides, yours probably has that spur thing on the hammer that would just confuse me.
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Re: Bankruptcy & My Guns

Postby goalie on Tue Jan 04, 2011 8:11 pm

Pat Cannon wrote:
goalie wrote:IIRC, you were shooting a Ruger GP100 at the steel shoots, right?

Come Spring, let me know if you want to borrow mine for any shoots if you are still "without." It's a 4" model with a fiber-optic front-site installed.

:cheers:

Thanks man! I don't expect be without, though. Besides, yours probably has that spur thing on the hammer that would just confuse me.


If you don't touch it with your thumb, it just sits there and does nothing. Seriously though, just let me know when the time comes. Those things are freaking tanks. Ya gotta love a gun you don't have to worry about babying.
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Re: Bankruptcy & My Guns

Postby hammAR on Tue Jan 04, 2011 8:24 pm

I have a hack saw and Dremmel............... :mrgreen:
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Re: Bankruptcy & My Guns

Postby DanM on Wed Jan 05, 2011 7:24 am

hammAR wrote:I have a hack saw and Dremmel............... :mrgreen:


Add a pipewrench and you're a certified gunsmith. :roll:
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Re: Bankruptcy & My Guns

Postby Pezhead on Wed Jan 05, 2011 7:29 am

I have a hammer. Does that help?
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Re: Bankruptcy & My Guns

Postby xd ED on Wed Jan 05, 2011 7:46 am

Pezhead wrote:I have a hammer. Does that help?


If it's big enough, a hammer can fix anything.
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Re: Bankruptcy & My Guns

Postby Pezhead on Wed Jan 05, 2011 7:47 am

I have several hammers & a few pry bars too. :D
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Re: Bankruptcy & My Guns

Postby rugersol on Wed Jan 05, 2011 7:53 am

Ya know ... if one were to acquire an appraisal of a gun ... let's say, a Ruger GP100 ... the appraisal would likely be higher, if the gun were in somewhat "original" or "pre-Bubba" (still has a hammer spur) condition. Image
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Re: Bankruptcy & My Guns

Postby Pat Cannon on Wed Jan 05, 2011 8:21 am

ahrens wrote:Ya know ... if one were to acquire an appraisal of a gun ... let's say, a Ruger GP100 ... the appraisal would likely be higher, if the gun were in somewhat "original" or "pre-Bubba" (still has a hammer spur) condition. Image

Mine's a KGPF-330DAO which is factory spurless. In any case for my purposes at the moment, the lower the appraisal the better, as long as it's credible.
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