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Thread: can they take your guns?

  1. #1
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    if you file chapter 7 or 13 bankruptcy

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    Bankruptcy law for the State of Nevada states:

    NRS 21.090 Property Exemption from Execution:
    (i) All arms, uniforms and accouterments required by law to be kept by any person, and also one gun, to be selected by the debtor.

    You may keep a single gun during liquidation of your property. One option might be to sell or pawn all your current guns and purchase a single, expensive gun while going through bankruptcy, and then convert back once your debt is discharged.

    There are guns that will fit just about any size or value collection. Just check out this $190,000 gun:

    http://www.gunbroker.com/Auction/Vie...Item=171470655

    Then again, doing the above may constitute fraud. Since I'm neither an attorney, nor experienced in the bankruptcy process, this is something you will want to discuss with your bankruptcy attorney beforehand to avoid any hint of wrongdoing.

    Tim

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    well i have everything paid off truck 5 th wheel i live in and im not close to bankruptcy yet but i have over 10g in credit car debt and unless unemployment keeps paying im going to file by the end of the year



    1 gun but what if you have a few that you bought face to face how can they know you have them

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    erichonda30 wrote:
    1 gun but what if you have a few that you bought face to face how can they know you have them
    Aren't you required to list all possible assets during that bankruptcy? There are huge legal differences in 'guns they don't know about' and 'guns you don't tell them about.' I believe continuing this conversation in a public forum is unwise.

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    For only $10k in credit card debt, there are a lot less damaging options than a bk. Is it all one card or several? I owed $20k to Bank of America alone...when I couldn't pay anymore they offered to settle the whole debt for $5k. I was able to get a family loan from mom and paid it. Technically you'll have to pay income tax on the forgiven debt, but being unemployed shouldn't be hard to show that you're indigent or close to it.

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    jpa wrote:
    For only $10k in credit card debt, there are a lot less damaging options than a bk. Is it all one card or several? I owed $20k to Bank of America alone...when I couldn't pay anymore they offered to settle the whole debt for $5k. I was able to get a family loan from mom and paid it. Technically you'll have to pay income tax on the forgiven debt, but being unemployed shouldn't be hard to show that you're indigent or close to it.
    i have heard of that they settle for pennies on the dollar but i think they will find out somehow what assets you have and if you have a house they may put a lein on it

    but i live in a 5th wheel and rent a space to park it my truck is still worth 40k

    also i hoping construction will pick up or maybe the california solar plants will start

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    timf343 wrote:
    You may keep a single gun during liquidation of your property. One option might be to sell or pawn all your current guns and purchase a single, expensive gun while going through bankruptcy, and then convert back once your debt is discharged.

    Then again, doing the above may constitute fraud.
    It DEFINITELY constitutes fraud -- it is an attempt to shield assets which legally should go to pay your debts. Getting caught can also mean NOT getting bankruptcy protection.

    Even an innocent, aboveboard transaction done before any plan to file bankruptcy may get you in trouble, if it appears to be an attempt to hide your money, so it doesn't matter HOW long you have been wanting that gold-inlaid pistol straight out of the vault and to the estate sale, selling the rest of your guns to buy it can still look fishy.

    It is common for companies about the be left holding the back for a lot of debt (10K isn't all that much) to have the debtor followed as soon as there is the hint of bankruptcy, watching to see if he has stuff stored, if he takes things out of (or puts them into) the house, etc. Bank, phone and employer records may be subpoenaed, but the real killer is when they hand out photos of that big-ticket item which the debtor treats as property, but which isn't on the asset list. Private investigators love moments like that, the same way Homicide detectives love seeing that same look in the eyes of their suspects.

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    erichonda30 wrote:
    but i live in a 5th wheel and rent a space to park it my truck is still worth 40k
    You won't be able to declare bankruptcy, if your debt is $10K and your truck is worth $40K. You are considered able to pay your debts -- and you ARE.

    My advice: Sell the truck. Take whatever loss you have to (though it sounds like you have some time to get a good deal on it), buy a cheap truck and pay your debt. Since you're not in a hurry to sell the truck, you will get more -- then turn around and find someone who needs a fast $4K for something that will do the job for you, while you make your best deals with the card companies.

    Not only will you feel better about it, you will also not take the hit on your financial record that comes with bankruptcy.

    If you have several cards to worry about, go to the one with the least debt, make your best deal, pay that off, then go to the next-smallest, same story.

    Consider also that there is a LOT of empty desert. You can give up the paid space and go dry camp for a few days, haul into town (or the nearest rest area) to dump your holding tanks, then go back out onto the dirt. Mash your trash, bag it, haul it to the dump.

    One guy I know bought a small "recreational" lot on ebay, 5 miles from town, and put in a small septic system (enough for his RV). He has solar panels and a small genset, pulls a water tank trailer into town to fill up, and the whole setup cost him less than four months RV park rental -- INCLUDING the land.

    10K really isn't a lot of debt, way below the average. You can work your way out of it.

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    There are a lot of procedures in place to detect fraud such as this. for instance, My fathers health is deteriorating and we now at some point his financial resources will run out leaving his medical care to the state of California. In order for him to be approved for Medi-Cal, we have to hand over bank records so they can check to see if large sums of money have been moved out of his name that could have otherwise have been used to support his health care needs.

    if I where an autitor and saw that a year ago you sold 4 of these:


    to buy 1 of these


    I would make you sell the nickel plated sissy pistol and buy one of these:
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    i think i read nevada you can keep a vehicle up to 15,000 in value but try finding a dually diesel that cheap THAT IS RELIABLE with a hitch to tow my 5th wheel



    will a credit card company realy hire a private investigator?

    if so im hooking up and heading to mexico

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    DVC wrote:
    You won't be able to declare bankruptcy, if your debt is $10K and your truck is worth $40K. You are considered able to pay your debts -- and you ARE.

    My advice: Sell the truck. Take whatever loss you have to (though it sounds like you have some time to get a good deal on it), buy a cheap truck and pay your debt. Since you're not in a hurry to sell the truck, you will get more -- then turn around and find someone who needs a fast $4K for something that will do the job for you, while you make your best deals with the card companies.

    Not only will you feel better about it, you will also not take the hit on your financial record that comes with bankruptcy.

    If you have several cards to worry about, go to the one with the least debt, make your best deal, pay that off, then go to the next-smallest, same story.

    Consider also that there is a LOT of empty desert. You can give up the paid space and go dry camp for a few days, haul into town (or the nearest rest area) to dump your holding tanks, then go back out onto the dirt. Mash your trash, bag it, haul it to the dump.

    One guy I know bought a small "recreational" lot on ebay, 5 miles from town, and put in a small septic system (enough for his RV). He has solar panels and a small genset, pulls a water tank trailer into town to fill up, and the whole setup cost him less than four months RV park rental -- INCLUDING the land.

    10K really isn't a lot of debt, way below the average. You can work your way out of it.

    What he said. Owning a 40K truck in this situation is insane.



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    erichonda30 wrote:
    i think i read nevada you can keep a vehicle up to 15,000 in value but try finding a dually diesel that cheap THAT IS RELIABLE with a hitch to tow my 5th wheel



    will a credit card company realy hire a private investigator?

    if so im hooking up and heading to mexico
    I passed a couple of them by in November for under $4000. Get on crazedlist.org (this is a site that lets you search multiple Craigslist sites at the same time) and look around.

    You have one major advantage, being in Nevada. Vehicles last FOREVER. Just a quick look at the Reno and LV ads, I see plenty of good possibilities under $10K, some under $6K -- and that's the ASKING price, you wave money at them and you can get a good one under $5K.

    Check this one: http://lasvegas.craigslist.org/cto/1763830108.html

    Let's say you ended up selling your $40K truck for $30K. You buy a $5K truck, you negotiate your debts down from $10K to $8K and pay them off. That leaves you with SEVENTEEN THOUSAND DOLLARS IN THE BANK, plus ALL OF YOUR GUNS and NO DEBT.

    Sure, a $5K truck won't be as pretty as a $40K truck, but you can't eat scenery.

    For $10K, all they will do is hound you -- but a bankruptcy court will get your bank records, and the credit card people know where you spent the money, so you really can't make the case that you don't have anything for the court to sell and pay them off. One way or the other, they will get their money, probably by taking your truck -- wouldn't you really rather arrange it yourself?

    BTW, in case you think I'm being holier-than-thou, maybe I should mention that I got my familiarity with bankruptcy firsthand -- and that was in 1994, when it was better for the broke guy than it is now.

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    DVC wrote:
    erichonda30 wrote:
    i think i read nevada you can keep a vehicle up to 15,000 in value but try finding a dually diesel that cheap THAT IS RELIABLE with a hitch to tow my 5th wheel



    will a credit card company realy hire a private investigator?

    if so im hooking up and heading to mexico
    I passed a couple of them by in November for under $4000. Get on crazedlist.org (this is a site that lets you search multiple Craigslist sites at the same time) and look around.

    You have one major advantage, being in Nevada. Vehicles last FOREVER. Just a quick look at the Reno and LV ads, I see plenty of good possibilities under $10K, some under $6K -- and that's the ASKING price, you wave money at them and you can get a good one under $5K.

    Check this one: http://lasvegas.craigslist.org/cto/1763830108.html

    Let's say you ended up selling your $40K truck for $30K. You buy a $5K truck, you negotiate your debts down from $10K to $8K and pay them off. That leaves you with SEVENTEEN THOUSAND DOLLARS IN THE BANK, plus ALL OF YOUR GUNS and NO DEBT.

    Sure, a $5K truck won't be as pretty as a $40K truck, but you can't eat scenery.

    For $10K, all they will do is hound you -- but a bankruptcy court will get your bank records, and the credit card people know where you spent the money, so you really can't make the case that you don't have anything for the court to sell and pay them off. One way or the other, they will get their money, probably by taking your truck -- wouldn't you really rather arrange it yourself?

    BTW, in case you think I'm being holier-than-thou, maybe I should mention that I got my familiarity with bankruptcy firsthand -- and that was in 1994, when it was better for the broke guy than it is now.
    i did some reading and bush signed some bs about passing a means test otherwise you cant qualify for bankrupcty





    the banks win we lose

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    erichonda30 wrote:
    i did some reading and bush signed some bs about passing a means test otherwise you cant qualify for bankrupcty





    the banks win we lose
    Well, unless someone held a gun to your head, you are the one who put yourself into debt in the first place. You are the one who bought a truck worth 4 times that debt, plus however many guns you are trying not to lose in bankruptcy.

    Sounds to me like it's time to man up, sell the truck and pay your debt, instead of complaining that the banks you borrowed the money from want you to pay it back. I've showed you how you can do that and come out ahead, but the choice is yours.



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    13 more weeks of nevada unemployment:celebrate

    im good for that much longer

    hopefully vegas will build that stadium and get some of these projects rolling

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    If all else fails you can always sell bottles of watter for $1 on the pedestrian crossings, sell nightclub passes on the strip or dress up like Davey Jones and hustle tourists for a tip to have their picture taken with you...

    Just kidding. Times are tough as hell right now I seem to see a new hustle every day.
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    DVC wrote:
    Well, unless someone held a gun to your head, you are the one who put yourself into debt in the first place. You are the one who bought a truck worth 4 times that debt,


    This kind of logic is all wrong. Im am sure this person bought these things while employed and was able to make the payments, then life happened and he lost his job.

    If this was the way everyone thought, then nobody should ever but a single thing, just incase life hits you and bankruptcy is your only option.

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    yes exactly and i also took out my annuity that took 8 years to get where it was to pay my 50000 truck off which i didnt have to do

    and the bank industry caused this whole mess

    vegas was hit hard and now theres at least 5 billion $ worth of work shut down

    as far as construction goes theres not to many places that have work

    i feel bad for the people in the gulf coast getting screwed over by big oil companies that whole are will never be right

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    Nevada carrier wrote:
    If all else fails you can always sell bottles of watter for $1 on the pedestrian crossings, sell nightclub passes on the strip or dress up like Davey Jones and hustle tourists for a tip to have their picture taken with you...

    Just kidding. Times are tough as hell right now I seem to see a new hustle every day.
    are you a 357 electrician?

    i was thinking i need to open up a brothel theres already 2 down the road from the rv park im staying at

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    kdt1970 wrote:
    DVC wrote:
    Well, unless someone held a gun to your head, you are the one who put yourself into debt in the first place. You are the one who bought a truck worth 4 times that debt,


    This kind of logic is all wrong. Im am sure this person bought these things while employed and was able to make the payments, then life happened and he lost his job.

    If this was the way everyone thought, then nobody should ever but a single thing, just incase life hits you and bankruptcy is your only option.
    He has a truck worth FORTY THOUSAND DOLLARS. He only owes a fraction of what that's worth, so selling it would clear the books AND give him thousands of dollars more than he owes to put in the bank!

    It doesn't matter how employed or unemployed he is -- HE put himself into debt Instead, he is condemning the banks that loaned him the money that he asked for.

    This may not be as far, but it is certainly the same road as someone hiring armed bodyguards, then condemning guns.

    BTW, I am just as unemployed as he is. I have no debt, only monthly expenses. I have no credit cards, only a debit card that works like Visa if I need it to. I don't buy stuff that I can't pay for, and I follow the dictum of "Love people, not things" -- I'm selling off stuff that I don't need. I'm getting by, and I don't have collection agencies after me.

    If I can do it, he can do it, and I didn't get to start with a $40,000 truck to sell at the beginning of summer. I've never even owned an AIRPLANE that cost $40,000!

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    DVC wrote:
    kdt1970 wrote:
    DVC wrote:
    Well, unless someone held a gun to your head, you are the one who put yourself into debt in the first place. You are the one who bought a truck worth 4 times that debt,


    This kind of logic is all wrong. Im am sure this person bought these things while employed and was able to make the payments, then life happened and he lost his job.

    If this was the way everyone thought, then nobody should ever but a single thing, just incase life hits you and bankruptcy is your only option.
    He has a truck worth FORTY THOUSAND DOLLARS. He only owes a fraction of what that's worth, so selling it would clear the books AND give him thousands of dollars more than he owes to put in the bank!

    It doesn't matter how employed or unemployed he is -- HE put himself into debt Instead, he is condemning the banks that loaned him the money that he asked for.

    This may not be as far, but it is certainly the same road as someone hiring armed bodyguards, then condemning guns.

    BTW, I am just as unemployed as he is. I have no debt, only monthly expenses. I have no credit cards, only a debit card that works like Visa if I need it to. I don't buy stuff that I can't pay for, and I follow the dictum of "Love people, not things" -- I'm selling off stuff that I don't need. I'm getting by, and I don't have collection agencies after me.

    If I can do it, he can do it, and I didn't get to start with a $40,000 truck to sell at the beginning of summer. I've never even owned an AIRPLANE that cost $40,000!
    the only debt i have is credit card on 1 card and $5000 of that is from the irs because i took out my annuity to pay my truck off which i automaticly paid 20% fed tax the day i took it out

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    There are atternys that work for the government, in private legal forms.

    They mainly work for the violations the credit card companys do to you when you can't pay anymore, and they start selling you off to collectors, who do violate you.

    Start reseaching the federal protection laws to protect yourself.

    "FDCPA" google that in and learn all you can now, before your turned over to collections. Find atternys who work for the FDCPA, in your state, they are free if they take your case. They get the fines, from the collectors and they do the setteling with the B of A.

    Their like watch-dogs for the fed -laws.

    Robin47 :celebrate

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    DVC wrote:
    kdt1970 wrote:
    DVC wrote:
    Well, unless someone held a gun to your head, you are the one who put yourself into debt in the first place. You are the one who bought a truck worth 4 times that debt,


    This kind of logic is all wrong. Im am sure this person bought these things while employed and was able to make the payments, then life happened and he lost his job.

    If this was the way everyone thought, then nobody should ever but a single thing, just incase life hits you and bankruptcy is your only option.
    He has a truck worth FORTY THOUSAND DOLLARS. He only owes a fraction of what that's worth, so selling it would clear the books AND give him thousands of dollars more than he owes to put in the bank!

    It doesn't matter how employed or unemployed he is -- HE put himself into debt Instead, he is condemning the banks that loaned him the money that he asked for.

    This may not be as far, but it is certainly the same road as someone hiring armed bodyguards, then condemning guns.

    BTW, I am just as unemployed as he is. I have no debt, only monthly expenses. I have no credit cards, only a debit card that works like Visa if I need it to. I don't buy stuff that I can't pay for, and I follow the dictum of "Love people, not things" -- I'm selling off stuff that I don't need. I'm getting by, and I don't have collection agencies after me.

    If I can do it, he can do it, and I didn't get to start with a $40,000 truck to sell at the beginning of summer. I've never even owned an AIRPLANE that cost $40,000!
    No, he is condemning the banks that ended the housing bubble; forgetting that the banks caused the housing bubble to begin with. That bubble was responsible for his ability to buy that truck, and now he condemns them since the bubble burst and ended the rampant construction......

    Hypocrite. But, other than the deal about a firearm, pretty off-topic.


    Actually, the banks only followed the lending guidelines of the government to provide a false real estate market that floundered......


    Man up, sell the bling-rig, and buy a subsistence rig.
    "Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety." Benjamin Franklin

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    wrightme wrote:
    DVC wrote:
    kdt1970 wrote:
    DVC wrote:
    Well, unless someone held a gun to your head, you are the one who put yourself into debt in the first place. You are the one who bought a truck worth 4 times that debt,


    This kind of logic is all wrong. Im am sure this person bought these things while employed and was able to make the payments, then life happened and he lost his job.

    If this was the way everyone thought, then nobody should ever but a single thing, just incase life hits you and bankruptcy is your only option.
    He has a truck worth FORTY THOUSAND DOLLARS. He only owes a fraction of what that's worth, so selling it would clear the books AND give him thousands of dollars more than he owes to put in the bank!

    It doesn't matter how employed or unemployed he is -- HE put himself into debt Instead, he is condemning the banks that loaned him the money that he asked for.

    This may not be as far, but it is certainly the same road as someone hiring armed bodyguards, then condemning guns.

    BTW, I am just as unemployed as he is. I have no debt, only monthly expenses. I have no credit cards, only a debit card that works like Visa if I need it to. I don't buy stuff that I can't pay for, and I follow the dictum of "Love people, not things" -- I'm selling off stuff that I don't need. I'm getting by, and I don't have collection agencies after me.

    If I can do it, he can do it, and I didn't get to start with a $40,000 truck to sell at the beginning of summer. I've never even owned an AIRPLANE that cost $40,000!
    No, he is condemning the banks that ended the housing bubble; forgetting that the banks caused the housing bubble to begin with. That bubble was responsible for his ability to buy that truck, and now he condemns them since the bubble burst and ended the rampant construction......

    Hypocrite. But, other than the deal about a firearm, pretty off-topic.


    Actually, the banks only followed the lending guidelines of the government to provide a false real estate market that floundered......


    Man up, sell the bling-rig, and buy a subsistence rig.



    i will use it for target practice before anyone takes it

    plus it tows my house on wheels 18,000 pounds+






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    erichonda30 wrote:
    i will use it for target practice before anyone takes it
    Leaving statements like this around will ensure someone tries to take it for what you owe. Probably time to start looking for a replacement job in ANY field, rather than go through the bankruptcy when you are obviously solvent and stubborn.

    $10K and no other debt does not count when you own a $40K asset.
    Just sell off a few sand toys to pay the card then.
    Moving on, this is simply off-topic.


    You are leaving trails that show that a bk would likely not be viewed well by the system:
    Interests:
    street bikes, quads, dirt bikes, hookers, guns, dogs
    "Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety." Benjamin Franklin

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