Exemptions In Bankruptcy

The doctrine of judicial estoppel reared its ugly head again, preventing a chapter 13 debtor from suing his former employer for racial discrimination.  The U.S. Court of Appeals, Eighth Circuit, ruled that a chapter 13 debtor should have amended his bankruptcy documents to list the lawsuit, even though the debtor suffered the alleged discrimination three […]

Tax refunds are a primary vehicle for short term savings in many working class families.  The average tax refund is approximately $3000, a significant amount of money.  Bankruptcy can jeopardize the accumulation for one year or, in the case of a chapter 13 bankruptcy, can eliminate this fund from routine use for years.  How does […]

Reversing the Minnesota bankruptcy court, an intermediate federal appeals court ruled that a property tax refund owed to a bankrupt homeowner cannot be claimed exempt.  Manty v. Johnson (In re Johnson), No. 13-6050 (8th Cir. BAP April 22, 2014). The appeals court said that the bankruptcy court was mistaken when it held that a Minnesota property […]

The scariest part of filing bankruptcy is losing property that one should not have lost. It doesn’t happen often or to many people, but everyone needs to know how to protect property. Everyone who files bankruptcy gets to exempt a certain amount of stuff, but not everyone gets to use the same exemptions. Debtors must […]

In Florida, your home is truly your castle.  We have Florida constitutional homestead equity protection in an unlimited amount.  This means that you can file bankruptcy with a two million dollar home (or more) with no mortgage and claim it as exempt, but this doctrine is subject to exceptions when a debtor files for bankruptcy […]

Your house – the place where you have lived in the past and plan to live in again – may not be your residence when you file a bankruptcy petition. Does it matter? In several ways it might matter a great deal. It may be that when you filed your bankruptcy petition you listed your […]