The Honorable John H. Squires, Bankruptcy Judge of the Northern District of Illinois, says NO!
Michael Mason was popped in Dekalb County IL for possession with intent to deliver over 30 grams of weed.  The Circuit Court set bail at $700 Grand.  Illinois law permits a criminal defendant to post a cash bond of 10 percent.  [...]

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The U.S. Court of Appeals for the First Circuit recently issued an important opinion concerning the claiming of exemptions in bankruptcy cases. In re Barroso-Herrans, 2008 WL 1960365 (1st. Cir 2008) the Court heard the appeal of a Chapter 7 debtor who had attempted to exempt proceeds from two collection lawsuits by listing their value [...]

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If you are in the Western District of Missouri, Kansas City Division, there are 10 Chapter 7 Trustees. You can never choose the trustee for your case, they are assigned by the Court at the time of filing. So far we have introduced you to Mr. David Stover, Ms. Erlene Krigel, Ms. Janice Stanton and [...]

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Maybe. It depends. Do you owe the IRS any prior monies? Can you claim the monies due to you as exempt?

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Technically speaking, once you file for bankruptcy, all your property is no longer yours.  Instead it is now part of a new entity called the Bankruptcy Estate, pursuant to 11 USC 522.  Nevertheless, in most cases, it goes back to you relatively quickly.

In chapter 7, all your property comprises the bankruptcy estate until one of [...]

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The purpose of the Massachusetts homestead is to protect families, not just debtors.  It should come as no surprise that a home remains protected if a child occupies the home even if the parent-debtor has moved out.  The parties in In re Thompson, 2008 Bankr. LEXIS 1199 all overlooked this point and argued about whether the debtor’s absence [...]

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When filing a personal chapter 7 or chapter 13 bankruptcy, most debtors are concerned about the effect the bankruptcy filing might have on their checking and savings accounts. After all, many debtors have banked at the same institution for years, and they do not want to have this banking relationship disrupted. This concern, [...]

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If people file for bankruptcy before the receipt of the stimulus rebates, they may be taken by the bankruptcy courts and used to pay a pennies on the dollar towards general unsecured debts like credit cards. For people filing for bankruptcy before the rebate checks are received, they may not have a choice [...]

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Part One of this article discussed the nature of the legal problems created by a transfer of property (real estate, a stock account, or some other valuable asset), for less than fair value, by a debtor prior to filing bankruptcy.  Part Two will discuss what, if anything, can be done to fix these problems.
If the debtor desires to file [...]

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Occasionally, a person facing debt problems will become concerned that an item of property (real estate, a stock account, or other some other valuable asset) might be vulnerable to a judgment creditor, or that such an item could be taken from him or her in a future bankruptcy case.  Without consulting an attorney, and in a misguided [...]

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