Category Archives: Protected Assets

If I File for Bankruptcy, Can I Keep my Home?

Posted on September 26, 2013 by

The potential to lose your home can be one of the most stressful and emotionally trying aspects of going through a tough financial period in your life.  While some may consider filing for bankruptcy, many people fear that in that … Continue reading →

Posted in Automatic Stay, Bankruptcy filing, Bankruptcy General, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Exemptions, Foreclosure, Homestead exemption, Protected Assets | Comments Off on If I File for Bankruptcy, Can I Keep my Home?

Can I Keep My Tax Refund in a Chapter 7?

Posted on September 12, 2013 by

Many people who are interested in filing for Chapter 7 Bankruptcy are interested to know if they are able to keep their tax refunds if they decide to file.  The answer to this question depends on when your case is … Continue reading →

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Do I Have to File for Bankruptcy with my Spouse?

Posted on September 12, 2013 by

Debtors who are married often wonder if they are required to file for bankruptcy with their spouse.  The answer to this question is no; a debtor is not required to file for bankruptcy jointly with their spouse if they are … Continue reading →

Posted in Bankruptcy filing, Bankruptcy General, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Means Test, Protected Assets, Secured Property | Comments Off on Do I Have to File for Bankruptcy with my Spouse?

Social Security Income and Bankruptcy

Posted on August 15, 2013 by

Many debtors wonder if they can and should file for bankruptcy if they are only receiving Social Security Income.   If you are only collecting Social Security Income, your creditors cannot garnish your wages and cannot levy, or freeze, your bank … Continue reading →

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Inheritance in a Chapter 7 Bankruptcy

Posted on July 2, 2013 by

Often times, the situation of receiving large inheritances while in a Chapter 7 bankruptcy comes up.  Whether there was a death in the family, or there was a large suit you received compensation from, receiving a large, lump sum of … Continue reading →

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Transferring Property Prior to Filing

Posted on March 29, 2013 by

Certain types of activities that you do prior to filing can render you ineligible to file bankruptcy for a period of time.  If you sell or gift any type of property the 2 years before filing for bankruptcy, it is … Continue reading →

Posted in Bankruptcy filing, Bankruptcy General, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Protected Assets, Uncategorized | Comments Off on Transferring Property Prior to Filing

Unexempt Tax Refunds in a Chapter 7 Bankruptcy

Posted on December 6, 2012 by

One of the most frequently asked questions by people who are planning on filing a Chapter 7 bankruptcy near the end of the year or the very beginning of the year is “what will happen to my tax refund?” When … Continue reading →

Posted in Bankruptcy filing, Bankruptcy General, Chapter 7 Bankruptcy, Discharge of Debt, Exemptions, Protected Assets, Taxes | Comments Off on Unexempt Tax Refunds in a Chapter 7 Bankruptcy

Property and Exemptions in a Chapter 7 Bankruptcy

Posted on September 5, 2012 by

There is a common misconception regarding Chapter 7 Bankruptcy, that prospective filers fear they will end up losing everything when they file. This fear stems from people hearing that Chapter 7 requires people to give up all of their property … Continue reading →

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Is my IRA Protected in Bankruptcy?

Posted on August 9, 2012 by

 When considering filing for bankruptcy, many individuals are concerned that their individual retirement account, or IRA, will not be protected.  Typically, IRAs are protected through bankruptcy; however, there are certain instances when an IRA could be considered unprotected.   The bankruptcy … Continue reading →

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