bankruptcy exemptions

Know More About Bankruptcy Exemptions

Call: 888-297-6203 When in doubt consult experts, is a popular saying. It is of extreme importance, especially in the case of bankruptcy. With so many myths surrounding bankruptcy, it is obvious that people who are struggling with debts are bound to be confused. A bankruptcy filer’s assets and debts are their most important concern, say lawyers of Dallas based bankruptcy law firm Recovery Law Group. What happens to both depends on the chapter of bankruptcy chosen by the bankruptcy filer. Individual debtors have the option of filing under Chapter 7 or Chapter 13 bankruptcy. Both these chapters have [...]

2019-10-01T13:23:29+00:00

Know about Texas Bankruptcy Exemptions

Filing for bankruptcy is often considered to be a taboo. You need to open your mind to realize that it is one of the best options to manage your finances, especially if you are struggling with large debts. The government provides various exemptions to debtors when they file for bankruptcy. Call 888-297-6023 to know more about these exemptions and how you can benefit from them. Apart from federal bankruptcy exemptions, every state has its own list of exemptions which protect a large portion of bankruptcy filer’s property. When you file for bankruptcy, everything you own becomes a part [...]

2019-07-23T12:49:53+00:00

A Joint Chapter 7 Bankruptcy Filing

Joint Bankruptcy or Joint Chapter 7 Bankruptcy is the filing opted by married couples who face surplus debts and seek options to have them discharged as they have challenges of paying them. Let’s first understand how the filing of Joint Bankruptcy works – A single set of bankruptcy papers are filed on behalf of the married couple (though there are two individuals involved) All property information, debts, income to the family and expenses are submitted to the court Debts can be those that are jointly owned or can be the ones that an individual owes to other Details [...]

2019-05-06T10:23:22+00:00

Federal Bankruptcy Exemptions Details

It is not necessary that you lose all your property when you file for bankruptcy. While filing for bankruptcy, it is therefore important that you are aware of the exemptions allowed by the state as well as federal government under various chapters. This is important to salvage as much of your assets as you can. You should know the details to choose the best exemption to save your property. Some states offer you a choice between state and federal bankruptcy exemption, however Sacramento requires you to choose the state exemption only. In case you reside in any other [...]

2019-05-06T09:29:51+00:00

Know More About Chapter 7 Bankruptcy Exemptions

Bad financial decisions may lead to economic problems. Filing for bankruptcy under Chapter 7 may provide you relief from your debt collectors. However, in the process you might end up losing some of your property. However, all is not lost as people who file for bankruptcy under chapter 7 are allowed to keep certain full exempt property. Exempt property is protected from creditor’s claims by the law. Some states like Colorado allow property to be exempt only under state law. Exempted property includes a portion of or the entire unpaid wages, household furniture, personal effects and home equity. [...]

2019-05-06T09:29:23+00:00

Bankruptcy Exemptions: An Overview

Filing for bankruptcy is a last resort for many people struggling immensely with financial issues and non-payment of dues. In this trying time, bankruptcy exemptions play a massive role in both chapter 7 & chapter 13 bankruptcy. While exemptions in chapter 7 bankruptcy help determine how much property can you keep, those in chapter 13 are used to keep your repayment plan payments low. Before delving deeper, it is important to know about bankruptcy exemptions. […]

2019-05-06T09:28:39+00:00