non-exempt assets Archives

Just because you own something that's not exempt doesn't always mean that the Chapter 7 trustee will take it. The trustee could abandon it.

Just because you own something that isn't exempt does not necessarily mean that your Chapter 7 trustee will liquidate it. Maybe not.

There's a lot more to using property exemptions than just matching them to your assets. There are benefits worth taking advantage of.

Usually you use the property exemptions available for the residents of your state. But not if you haven't lived there long enough.

What happens when your bankruptcy trustee thinks you undervalued an asset? How does the trustee determine what you own and its value?

Inheritances and life insurance proceeds have a special rule when it comes to the timing of your bankruptcy filing.

In most Chapter 7 cases, there is not much practical effect to what creditors put on their proofs of claim.

Whether you can keep other real estate depends first on whether it's "exempt."

Most people who file a Chapter 7 "liquidation" case don't have anything liquidated because everything they own is protected.

Chapter 7 "straight bankruptcy" is quick, usually quite straightforward, and appropriate for more situations than you might think.

Most people can file Chapter 7 and not lose anything because everything they own is "exempt." But what if something of yours isn't?

Chapter 13 âadjustment of debtsâ has a special way of helping with your support obligation. How about Chapter 7?