Below you'll find a list of all posts that have been tagged as “Exemptions”
People often wonder if the bankruptcy court will tell them how to spend money, or prohibit or limit any expenses. The short answer is, no. It is true that the bankruptcy court looks into whether the person has the financial means to make any payments to creditors, and requires information …
This may come as a surprise, but other families’ income does make a difference in your bankruptcy case. Here is why: in the Means Test in your bankruptcy filing, the court compares current median incomes with your gross income to assess your financial well-being and ability to pay creditors. Of …
Yes. In an interesting new update, U.S. 6th Circuit Court of Appeals recently held in Re Wengerd that the debtors rightfully claimed homestead exemption for their property, even though at the time the bankruptcy petition was field, they had a pending contract to sell the property. As a side note, …
