Assets And Property In Bankruptcy

07 Feb Bankruptcy and PayPal

When you file for bankruptcy you must fill out a set of forms. One of those forms is titled Schedule B where you MUST list all your personal property. This means listing everything you own whether it is above the earth, below the earth or in another country. One asset that is often overlooked is money. Money in the form of cash stored throughout a residence, an un-cashed check, funds in a bank account located in another country or in an account that is housed on the Internet.
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18 Jul Bankruptcy and the Unknown Asset

If you are filing for bankruptcy but you have an asset that you don't have information about, can you just put down "unknown" and leave it at that? That depends. The short answer is that youcanfile your bankruptcy case without all your information, meaning it ispossibleto do it, however I don't recommend it under most circumstances.

File at your own risk if you file without knowing all the answers

First and foremost, filing bankruptcywithout having all the information you need couldget you into a lot of trouble or complicate your case, depending on the circumstances, why, and how it is done. You don't want your case to turn into a train wreck, but sometimes you don't have a choice.
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22 Feb Should You Pay Off Your Car Prior to Filing for Bankruptcy? The Answer May Surprise You.

During the course of an intake interview a new client posed the following question to me - "I have only two payments left on my car. Should I pay it off prior to filing for bankruptcy?" Logically, paying off a car prior to filing would seem to make sense. In a Chapter 7, you can avoid the hassle of the reaffirmation agreement process and in a Chapter 13, you can avoid tying up your car title for months or years. Alas, when you enter the alternate universe known as bankruptcy, traditional rules of logic do not apply.
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