I am being sued for $19,000 for unpaid credit card debt.
I have no job but I have a mutual fund worth 18,000.
Can I be forced to sell the mutual fund?
Answer
Yes.... but in Chapter 7 bankruptcy, if that is an option for you, there is a wildcard exemption of about $23,000 that can protect the mutual fund balance. You should consult with a bankruptcy attorney to see if bankruptcy is an option. Alternatively, you might want to settle the lawsuit or do something else before a judgment is obtained against you. Consult with a lawyer before it is too late and you have no options.
Answer
Actually, you cannot be forced to sell it. If they get a judgment against you they will take care of liquidating it for you. Consulting with a bankruptcy attorney sounds like good advice.
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