While the $30k in CC debt can be discharged most debt to federal, state or local governments, including taxes or claims for over payment cannot be discharged. That's quite a large overpayment of unemployment benefits, and chance of disputing/reducing that?
In KY you can chose between KY state exemptions or the federal BK exemptions, you must chose between them, you can't mix them, as in picking the different exemptions you prefer. According to Nolo.com it looks like the federal exptions would be better for you:
- $22,975 expetion for personal residence
- $3,675 for your motor vehicle
- $1,550 for jewelry
- $12,250 aggregate value ($575 per individual item) on household goods, furnishings and appliances, clothes, books, animals, crops, or musical instruments
- $2,300 for tools of trade including implements and books
So, whether you will have to turn over posessions such as TV's, digital camera, clothes, wifes jewelry ext. depends if their value falls under those exemptions
There are 2 BK courts in KY, Eastern and Western, you need to figure out which one you are in, their websites have alot of useful info. With $50k income you'll want to check the "means test" to ensure you income less expenses is not more than the median income for your area if your income is more than the median income you can forced into a Ch 13 repayment BK, Goggle "Kentucky bankruptcy means test (your city or county).
If you do decide to file BK you'll want to retain legal representation, this info is intended as intial info for you decide whether to take the next step and make an appointment for initial consultation with a BK attorney.
