U.S. Supreme Court to Hear Bankruptcy Exemption Issue

27 Apr U.S. Supreme Court to Hear Bankruptcy Exemption Issue

The U.S. Supreme Court accepted a case for review with two bankruptcy exemption issues: 1) When a debtor exempts property as his own and places a value on it in his bankruptcy paperwork, is he limited to that dollar amount or is the asset fully exempt? 2) Is there an exception to the 30-day deadline for objections to the exemption by the bankruptcy trustee? See Schwab v Reilly, No. 08-538.

The Supreme Court reviews about 80-100 cases per year out of 15,000 requests.

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Jill Michaux has helped Kansas consumers with debt problems for three decades. She and her partner, Mark Neis, are Topeka's only bankruptcy specialists, board certified in consumer bankruptcy law by the American Board of Certification. She help start the National Association of Consumer Bankruptcy Attorneys.

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