Are you in the fortunate situation of having too much money to file bankruptcy? Let's see how you can fix that.
The short answers are "probably not" and "it depends". Let's expand on those short answers.
During my first consultation with people who are interested in filing bankruptcy, I always explain this very important subject of "exemptions". Let's see what exemptions are and why they're important.
Congratulations! You're not one of the many people who "go through" everything they could have kept when they file a bankruptcy, so they lose a large benefit of the bankruptcy Fresh Start. You have the opposite problem. How do you keep, rather than lose to your creditors, the money that you can't protect with "exemptions"? (more…)
I'll soon be filing a Chapter 7 bankruptcy. How much money can I keep in my checking account without losing it?
Here's the deal. The trustee assigned to your bankruptcy gets to take your property, including money, for the benefit of your creditors EXCEPT for what you can "exempt". As you can see, "exemptions" are a very important subject. (more…)
I keep hearing about a "Wild Card" and how important it is. Exactly what is it and how can it help me in my bankruptcy? (more…)
The answer to that question, like many answers to questions about bankruptcy, is "it depends". As an overview, it depends on the equity you have in your home and the "exemptions" you have to protect your home from creditors. For starters, "you" would never have to sell your home, but the bankruptcy trustee might do that. (more…)
"Can I Keep My Car in Bankruptcy?", or a similar question, is one I hear frequently as a bankruptcy lawyer. (more…)
Malcolm Ruthven gave a bankruptcy presentation at Legal Aid of Marin on Monday, August 17, 2009. There were additional points to be covered at the end of the event and these items will be added here as comments. (more…)