Bankruptcy might be something to consider, even if you don’t own any property. But people are often surprised to learn that even if they don’t file, their property may be protected (exempt) under their state’s exemption laws. Debtors have to be careful to follow the rules required to protect themselves from their creditors and [...]
exemption
One of the most common fears that people considering bankruptcy have is whether or not they will lose their retirement if they file for bankruptcy. Like all legal questions, the answer to the question of whether or not a debtor will lose their retirement benefits if they file for bankruptcy is that they will probably [...]
Perhaps the question I hear the most from homeowners that are considering bankruptcy is whether or not they are going to be able to keep their home. In most cases the answer is yes. The property that you as a debtor can keep when you file for bankruptcy depends upon the exemption laws of the state [...]
On of the biggest concerns people have when filing for bankruptcy is if they will lose assets. If an asset is not exempt, then it is available to pay your unsecured creditors. Education Savings Accounts (ESA) are a great way to save for the long term educational needs of your children, but can you keep [...]
What is a bankruptcy estate? A bankruptcy estate consists of all interest that a debtor has in property of any kind. The bankruptcy estate comes into existence with the filing of a Chapter 7 or Chapter 13 bankruptcy. The estate is administered by the bankruptcy court through a trustee. Most people realize that real estate, [...]
