In VERY RARE circumstances, ALL of your creditors can pursue you even if you file bankruptcy. Here is how to avoid those rare but dangerous circumstances.
In VERY RARE circumstances, ALL of your creditors can pursue you even if you file bankruptcy. Here is how to avoid those rare but dangerous circumstances.
You should always list potential claims, or potential lawsuits, that you have against someone else along with all of your other assets, because the law considers them to be assets and if you don’t list them, you could lose them forever.
The first step to take when you are contemplating bankruptcy and you own some real estate.
Can you keep your property through a Chapter 7 bankruptcy? The short answer to this question is: Maybe. It depends on your situation.
This is what something called “exemptions” are for. The way I explain it to clients is this: When you file for bankruptcy, something called the “bankruptcy estate” is [...]
Image by S Migol via Flickr
Planning on transferring your largest asset to a relative just before filing for bankruptcy so that the bankruptcy court can’t get to it? As a bankruptcy lawyer, I must say – PLEASE DON’T. It’s a bad idea because it can really get you into trouble and it can [...]
Image by mollyjolly via Flickr
Which debts should you put in the bankruptcy and which ones should you leave out?
Answer: You are required to list all of your debts in your bankruptcy papers! It is a common notion that you are allowed to keep some debts out of your bankruptcy by not listing them [...]
Image by BulaPhotography via Flickr
What is an abusive bankruptcy filing? When does a bankruptcy court consider a debtor’s Chapter 7 filing to be an abuse of the bankruptcy process?
A bankruptcy court will look at whether the person filing the bankruptcy acted in bad faith and at the entire circumstances surrounding the debtor’s financial situation.
A [...]
