Colorado Bankruptcy Exemptions
When filing for bankruptcy in Colorado, federal exemptions are not available. In this article, you will find a list of state exemptions available to debtors in Colorado.
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Florida Bankruptcy Exemptions
When filing for bankruptcy in Florida, federal exemptions are not available. In this article, you will find a list of state exemptions available to debtors in Florida.
→ Read MoreWisconsin Bankruptcy Exemptions
List of Wisconsin bankruptcy exemptions and resources.
→ Read MoreRhode Island Bankruptcy Exemptions
List of Rhode Island bankruptcy exemptions and resources.
→ Read MoreAre fines or punitive damages for fraud discharged in bankruptcy?
While bankruptcy can provide you with a viable option for restructuring and eliminating most debts, not all debts can be handled through a bankruptcy filing. If you are found liable for fraud, then you may face both fines for that fraud as well as punitive damages; these damages can be discharged in bankrputcy as Bankruptcy Code will not permit you to discharge any penalties for fraud.
→ Read MoreAn Introduction to Bankruptcy Exemptions
Figuring out which bankruptcy exemptions to use and how to use them is one of the most challenging parts of filing for bankruptcy. It’s difficult because bankruptcy law is a confusing mixture of federal and state law. From bankruptcy exemptions concerning your estate to specific state ‘wildcard’ exemptions, this article explains the various bankruptcy exemption that might be available to you.
→ Read MoreCan my employer fire me because of my bankruptcy?
It is illegal for a public or private employer to fire or discriminate against someone solely by reason of his/her having filed for bankruptcy, having been insolvent prior to discharge, or having failed to pay a dischargeable debt.
→ Read MoreWhen, why, and why not, should I consider bankruptcy?
Declaring bankruptcy if you find your self in debt is a legal and legitimate way to get back on your feet financially. If you declare bankruptcy, it can protect you from menacing creditors.
→ Read MoreFederal Bankruptcy Exemptions
Though federal bankruptcy law allows states to opt out of most federal exemptions, a few apply in all jurisdictions. The most important are the pensions exemptions listed in this article. These exemptions are found in 11 U.S.C.’522 and can be used by anyone who is qualified to file bankruptcy in a state that allows its residents to use the federal exemptions, or by anyone who doesn’t qualify under residency requirements to use state exemptions.
→ Read MoreWhat is Chapter 7 bankruptcy?
Chapter 7 is the bankruptcy provision most frequently used by individuals. Those who reside in, or own property or a business in, the United States can file for Chapter 7 bankruptcy. Chapter 7 involves the complete liquidation of a debtor’s property to pay creditors and wipe out remaining debts, giving the debtor what’s known as a fresh start. It’s important to know that Chapter 7 bankruptcy will stay on a person’s credit report for ten years. However, it is likely that if you believe you need to file for bankruptcy, your credit has already been affected by your high debt.
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