Quote:
Originally Posted by Johnny630
files bankruptcy what happens to your cards then ?
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This issue has been discussed before. They go into the bankruptcy estate and you become an unsecured creditor UNLSSS you record a UCC-1 in the state where the vault is located to put the world on notice of your ownership of the items. If you do that you elevate to the status of secured creditor and you are able to ask the court to return your items to you. If you do not, your cards get sold and maybe you get some money after all of the case costs, taxes and secured parties are paid off.
08-05-2022, 06:18 PM
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