Debt Settlement

Are Pensions Exempted In Bankruptcy?

Call: 888-297-6203 For people filing under chapter 7 bankruptcy, some amount of pension can be protected from bankruptcy trustee. This amount depends on which state you reside in as well as on your pension plan. Since all pension plans are different, some retirement plans are protected entirely, while others are partially exempted and some others are not exempted at all, say lawyers of Los Angeles based law firm. Completely exempted pension Irrespective of where you live, certain pensions are completely exempted under bankruptcy laws. Such pensions are not part of the bankruptcy estate and therefore you do not [...]

2023-04-11T10:25:41+00:00
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Filing For Bankruptcy Without Losing Your Car

Call: 888-297-6203 If you are filing for bankruptcy, there are factors which determine whether you can keep your vehicle or not. According to Dallas law firm lawyers, these factors include whether you are filing for a chapter 7 or 13 bankruptcy, whether you are current or behind car payments, and is the equity in the vehicle exempted or not. Keeping vehicle in Chapter 7 bankruptcy In chapter 7 bankruptcy, most debts are discharged in exchange of giving up your non-exempt property. The non-exempt property is liquidated by bankruptcy trustee and the money generated is paid to the unsecured [...]

2023-04-14T08:29:10+00:00
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Fate Of Real Estate Investment In Bankruptcy

Call: 888-297-6203 Personal bankruptcy can be filed under chapter 7 or chapter 13. The fate of investment property depends on which chapter you file under. In case of chapter 7, any property which is not protected by exemptions can be liquidated by the trustee and the proceeds distributed between unsecured creditors. In chapter 13, you can even keep your non-exempt property if you pay for it through the 3-5 years repayment plan. Dallas based law firm explains what happens to real estate investment in different chapters. Real estate in chapter 7 Any property that is protected through exemptions [...]

2023-04-14T08:26:25+00:00
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Can Bankruptcy Filing Cause Me To Lose My Checking Or Saving Account?

Call: 888-297-6203 One of the major concerns people have while filing for chapter 7 bankruptcy is whether they can keep their savings and other accounts or not. According to lawyers of Los Angeles based law firm, banks usually do not close the savings or checking account and the amount in those accounts is also protected (up to a certain limit) in most states. However, there are exceptions especially if the money comes from exempt sources like public benefits etc. In case you have a loan with the bank, they may freeze your accounts when you file for bankruptcy. [...]

2023-04-11T10:29:22+00:00
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Evaluating The Value Of Personal Property In Bankruptcy

Call: 888-297-6203 According to the lawyers of Los Angeles based law firm, while filing for bankruptcy you need to list all your personal property along with its current value. This is the price that anyone would pay for the property and depends on the condition and age of the property. Moreover, there can be questions from the trustee and creditors regarding the information provided.Thus, written documentation backing the evaluation supporting your claim of the property’s value is important. There are different methods to calculate the value of the property, here are some ways to calculate replacement value of [...]

2023-06-29T04:24:25+00:00
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Know More About Federal Non-Bankruptcy Exemptions

Call: 888-297-6203 Exemptions can help protect your property when you file for bankruptcy, say lawyers of Dallas based law firm. In the case of chapter 7, they determine what you can keep; while in chapter 13, they determine what you pay to the creditors through the repayment plan. Different states have different sets of exemptions that can be used by filers. Some states even allow bankruptcy filers the option of choosing between state and federal bankruptcy exemptions. In case you choose the state’s bankruptcy exemptions, you have the choice of getting another set of exemptions to protect additional [...]

2023-06-29T04:28:06+00:00
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Get To Know About Federal Bankruptcy Exemptions Here!

Call: 888-297-6203 When individuals file for bankruptcy, federal bankruptcy exemptions are available in certain states to protect the filer’s properties. Through these exemptions, you can protect some of your property including your home, car, certain other possessions like musical instruments, etc. in chapter 7 bankruptcy. In the case of chapter 13 bankruptcy, these exemptions determine what needs to be paid to creditors through the repayment plan. Every state has a set of exemptions that the bankruptcy filers can use, while 17 states allow debtors to choose between state and federal bankruptcy exemptions. These include Alaska, Arkansas, Connecticut, Columbia, [...]

2023-06-29T04:32:09+00:00
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While Filing For Bankruptcy Which Items Are Protected Through Exemptions?

Call: 888-297-6203 Exemptions form an important part of the bankruptcy proceedings as you can protect your property (home, car, pension, personal property, etc.) using them. Any non-exempt property you have can be taken by the trustee and sold to pay your unsecured creditors in chapter 7 bankruptcy. in case of chapter 13, you can even keep your non-exempt property if you pay your creditors an amount equal to the value of the non-exempt property. Before filing for bankruptcy, it is important to find out about the state exemptions, according to Dallas based law firm. Which bankruptcy exemption should [...]

2022-02-23T05:23:25+00:00
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Which Exemptions Are Allowed In Chapter 13 Bankruptcy?

Call: 888-297-6203 If you are worried about losing all your belonging when you file for bankruptcy, you are mistaken, say lawyers of Los Angeles based law firm. The state exemptions can help protect your exempt property. Unfortunately, the non-exempt property is liquidated in chapter 7 while you can keep it in chapter 13 if you can pay for them through your 3-5 years repayment plan. Importance of exemption in chapter 13 bankruptcy In chapter 13 bankruptcy you can even keep non-exempt property by paying for them through the court approved monthly repayment plan. Generally, the bankruptcy trustee oversees [...]

2023-04-11T10:23:27+00:00
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Calculations For Chapter 13 Monthly Payment Plan

Call: 888-297-6203 People filing for Chapter 13 bankruptcy need to propose a repayment plan which generally continues between 3-5 years depending on your debt and disposable income. You have to pay the specified amount to your bankruptcy trustee who in turn pays your creditors. According to lawyers of Dallas based law firm, some creditors are paid entirely, while others are paid only a part of what is owed to them. If you wish to know how to calculate your plan payments, here is how you can do that: Debts paid in full through a repayment plan You need [...]

2023-04-11T10:22:05+00:00
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