Are airline/hotel points exempt?

[Timmer1001]

What is the name of your state (only U.S. law)?

Texas:

In a Chapter 7 consumer filing, are airline miles and points considered an asset that I need to list and/or stand to lose in liquidation?

Airline rules prohibit the sale/barter of miles so it seems a liquidation of those is not possible, but what do you all think or know?

Thanks for your help in advance

 

[tranquility]

I know nothing of BK law, but what's it going to hurt to list them?

 

[Timmer1001]

well, if I list them, then the trustee may consider them an asset and take them from me. I don't want to give him any ideas.

Also, this bankruptcy is correlated to a divorce, so I don't want the ex to get her hands on my miles. Hers, yes, mine, no.

 

[Gregeney]

Anything you own that has a monetary value is an asset that needs to be listed.

Hiding assets from a trustee is not a good idea. It's a very bad idea actually, and an illegal act. You might be able to exempt them using the wildcard if the wildcard is not used up with other assets.

If you can't exempt them, you might consider converting them into a type of asset that you can exempt.

 

[nrknlknek]

They are not exempt. You could use them in connection with your woldcard exemption, but my guess is that you would have better uses for that exemption. You should list them and any other assets and liabilities on your petition. I venture to say that the Trustee will probably not be all that interested in them because he/she would have to convert them somehow to benefit the creditors and that would not be easy. However, one can never be certain. I've seen Trustees go after some strange stuff.