Archive: December 2009
Tuesday, December 15th, 2009 |
Nonexempt property is property that a bankruptcy trustee is entitled to take and sell in order to pay your creditors. Exempt property, on the other hand, is property you are allowed to keep during and after your bankruptcy. Of course,…
Monday, December 14th, 2009 |
Property that you own and possess such as cameras, televisions, furniture, tools, clothing, books, computers, cars, real estate, boats, and stock certificates are included in your bankruptcy estate which means that the bankruptcy trustee can sell those things to pay…
Thursday, December 10th, 2009 |
Although many collection actions are stopped by an automatic stay, the following are not:
Almost all legal proceedings pertaining to divorce or parenting including actions to:
Set and collect current child support and alimony.
Establish paternity in a lawsuit.
Determine…
Monday, December 7th, 2009 |
People filing for bankruptcy have often been harassed by creditors demanding payment and threatening lawsuits. But when you file for bankruptcy, the bankruptcy court immediately and automatically enters an Order for Relief (also known as an Automatic Stay) that requires…
Thursday, December 3rd, 2009 |
When you file a petition with the bankruptcy court to declare bankruptcy, those individuals and businesses to whom you owe money (otherwise known as “creditors”) are allowed to file objections with the bankruptcy court stating why they believe that the…