Crucial Question: How Can I Protect a Non-Exempt Asset with a Chapter 13 “Adjustment of Debts”?
Protect your otherwise unprotected asset(s) by flexibly paying to do so under Chapter 13. Maybe you wonât even need to pay anything extra.
Crucial Question: How Can I Protect an Asset that is Not “Exempt”?
Most people can file Chapter 7 and not lose anything because everything they own is "exempt." But what if something of yours isn't?
A Last Word about One of Only Two Supreme Court Consumer Bankruptcy Opinions This Year
Last month's decision in Clark v. Rameker affects millions, if not billions, of dollars in IRAs.
A Lesson in Retirement Exemptions from the Most Recent Bankruptcy Decision by the Supreme Court
Almost all forms of retirement are protected. Inherited ones aren't, unless you are the spouse, or maybe if you live in the right state.
A Lesson in Property Exemptions from the Recent Supreme Court Decision about Inherited IRAs
Some debtors can, but others cannot, choose between the federal and state exemptions. That's because of a major political compromise.
Supreme Court Decides that an Inherited IRA Is Not Protected from Creditors in Bankruptcy
An Individual Retirement Account no longer consists of "retirement funds" once it is transferred to a beneficiary. So it's not exempt.
Tax Season: Have Your Chapter 7 Trustee Pay Your Income Tax Debt
You may have assets not protected by the property exemptions. If you owe recent income taxes, surrender the assets so the taxes get paid.
Federal Law Can Limit the Amount of Your State-Law Homestead Exemption
If you bought your home within 3 years and 3 months ago, bankruptcy law creates a maximum amount of homestead that you can exempt.
New Bankruptcy Dollar Amounts Effective April 1, 2013 Could Affect Your Case
Here is a summary of the changes. They apply only to new bankruptcy cases filed starting April 1.
Income Tax Refunds in Bankruptcy-Chapter 7
If you're filing a "straight bankruptcy" case, how do you keep your income tax refund?
Married Couples in Chapter 7 and Chapter 13
Bankruptcy law allows married couples to file bankruptcy separately or together. That option comes with consequences, which can also effect whether you file under Chapter 7 or 13.
Your Vehicle in Chapter 7 and Chapter 13
Bankruptcy can protect your car or truck. Both Chapter 7 and 13 can, but which do you need?
The Trustee in Chapter 7
In bankruptcy you hear a lot about "the trustee." What does this person do, in a "straight" Chapter 7 case, and in an "adjustment of debts" Chapter 13 one?
The Usually Easy to Answer First Question for Your Bankruptcy Attorney
In deciding between Chapter 7 and 13, get this question out of the way right away: "Can I keep everything I own if I file a Chapter 7 case?"