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Do I Have To Give Up My House in Chapter 7 Bankruptcy?

This is a common question among debtors who either don't own their home, or are still making mortgage payments. Some homeowners worry about what will happen to their house when they file chapter 7 bankruptcy. It helps to understand your options prior to filing based on your unique situation. In most cases, debtors end up [...]

By |2018-11-16T18:55:06-05:00July 18th, 2013|Chapter 7 Bankruptcy|Comments Off on Do I Have To Give Up My House in Chapter 7 Bankruptcy?

Can I Keep Cash I Have On Hand in Chapter 7 Bankruptcy?

Keeping Cash on Hand During Chapter 7 Bankruptcy There are exemptions available in Chapter 7 bankruptcy that may help protect your cash. Although the cash in question has to qualify as an exempt asset. It's common for consumers to be afraid of filing in fear of losing cash assets. The good news is you may [...]

By |2017-12-13T02:10:52-05:00May 21st, 2013|Chapter 7 Bankruptcy|Comments Off on Can I Keep Cash I Have On Hand in Chapter 7 Bankruptcy?

How Planning Ahead May Help You Keep Your Tax Refund in Chapter 7 Bankruptcy

 If you file for Chapter 7 bankruptcy , you may not need to worry about your tax refund if you take simple steps to plan beforehand.  If you are anticipating a refund or you have received it and you plan to file for protection, it is likely you want to know what will happen.  [...]

By |2018-11-19T20:08:56-05:00March 22nd, 2013|Chapter 7 Bankruptcy|Comments Off on How Planning Ahead May Help You Keep Your Tax Refund in Chapter 7 Bankruptcy

Can Chapter 7 Bankruptcy Help Protect Life Insurance Proceeds?

Bankruptcy and Life Insurance Proceeds The law does show a considerable amount of respect when it comes to life insurance. Life insurance proceeds may be considered property of the bankruptcy estate depending on how you are entitled to them. There are exemptions that may help protect proceeds, but it is important to disclose details of [...]

By |2018-11-07T21:48:24-05:00January 11th, 2013|Chapter 7 Bankruptcy|Comments Off on Can Chapter 7 Bankruptcy Help Protect Life Insurance Proceeds?

Can I Keep a Cash Gift Received While in Chapter 7 Bankruptcy?

A cash gift received while in bankruptcy may be protected, but if you were entitled to receive it before you filed this is an issue to review in more detail. It comes down to understanding if the cash gift was in fact a "gift." If there is no entitlement prior to the filing than most likely [...]

By |2018-11-15T23:47:15-05:00January 10th, 2013|Chapter 7 Bankruptcy|Comments Off on Can I Keep a Cash Gift Received While in Chapter 7 Bankruptcy?

Does Chapter 7 Bankruptcy Protect Accident Insurance Proceeds?

 Bankruptcy and Accident Insurance Proceeds If you received proceeds due to an accident you were involved in, there are issues to consider that can affect their protection eligibility in a chapter 7 bankruptcy. Depending on when the accident took place and why the proceeds were paid, bankruptcy exemptions may protect proceeds from creditors. An issue [...]

By |2018-11-07T21:12:11-05:00December 20th, 2012|Chapter 7 Bankruptcy|Comments Off on Does Chapter 7 Bankruptcy Protect Accident Insurance Proceeds?

What Happens to My House if I File Chapter 7 Bankruptcy?

Your House During Chapter 7 Bankruptcy Many debtors are under the impression that they will automatically lose their home if they file Chapter 7 bankruptcy . The idea has even kept many from filing to begin with but in most cases, you'll be able to keep personal property including your home. The ability to keep [...]

By |2017-12-13T02:13:13-05:00July 18th, 2012|Chapter 7 Bankruptcy|Comments Off on What Happens to My House if I File Chapter 7 Bankruptcy?

Is Chapter 7 Bankruptcy an Option to Help Me Keep Secured Property?

Secured Property and Chapter 7 Bankruptcy It's common to be told by your bankruptcy attorney or trustee that secured property should be paid for or returned in a Chapter 7 bankruptcy case.  Meaning if you have a debt that includes secured property with a lien, you'll have to set up a payment arrangement with the [...]

By |2018-11-19T22:51:12-05:00June 25th, 2012|Chapter 7 Bankruptcy|Comments Off on Is Chapter 7 Bankruptcy an Option to Help Me Keep Secured Property?

Getting a Mortgage After a Chapter 7 Bankruptcy

Once you've filed a Chapter 7 bankruptcy you can expect that fact to stay on your credit report for up to 10 years and how quickly you build you credit back up depends on the steps you take to rebuild it. But fortunately for Chapter 7 bankruptcy filers mortgages are handled a bit differently than [...]

By |2018-11-14T19:19:58-05:00November 8th, 2011|Chapter 7 Bankruptcy|Comments Off on Getting a Mortgage After a Chapter 7 Bankruptcy

Neglect Of Fiduciary Duty Can Render Some Debts Nondischargeable In Bankruptcy

In the recent Chapter 7 bankruptcy of a Texas debtor, the bankruptcy court ruled that debt owed to a partnership would be nondischargeable because the debtor willfully neglected their fiduciary duty. Early on in his tenure as president of B & W, Harwood (the debtor) began withdrawing funds from FNFS for his personal use, including [...]

By |2018-11-14T21:44:11-05:00August 9th, 2011|Chapter 7 Bankruptcy|Comments Off on Neglect Of Fiduciary Duty Can Render Some Debts Nondischargeable In Bankruptcy