Jason W

Assuming a person is filing for Bankruptcy. Do you think the Stimulus Rebate should be considered an asset in a bankruptcy case? With this being said. I have heard from several sources that Bush stated that the stimulus rebate is suppose to be used for consumer spending to help stimululate the economy and not for bill or loan payments. If the trustee seized the stimulus rebate, I would consider this to be used for bills and not what the money was intended for. Therefore, I feel that the stimulus rebate should not be considered an asset and exempt from any chapter bankruptcy case. Let me know what your opions are. Feel free to rebut my opionion.

Assuming a bankruptcy petition was filed prior to the signing of the stimulus package. Should the stimulus package be considered an asset of the estate and be subject to seizure by the trustee?

I have about 20-25 collection accounts most with balances exceeding the original limit, as well as, a tax lien that has been paid in full one year ago. I have 3 positive accounts, 2 student loans and one auto loan each paid in full on time every month. My credit scores are between 430-500 between the three credit bureaus. I heard that a bankruptcy can drop a person's score by 100 to 200 points. My question is since I will be filing a chapter 7 and reaffirming my positive debts and all the collection accounts making my score go down will be wiped clean. Will my score go up immediately after the discharge? Even though I will have a bankruptcy on my credit. I have heard this but not for sure how much truth there is to it. Any opinions will be appreciated.