Are There Any Federal Bankruptcy Insurance Exemptions?
There are two main federal bankruptcy exemptions for “unmatured” insurance contracts; 11 U.S.C. § 522(d)(7) and (d)(8): (7) Any unmatured life insurance contract owned by the debtor, other than a credit life insurance contract. (8) The debtor’s aggregate interest, not to exceed in value $11,525 less any amount of property of the estate transferred in […]
Can A Bankruptcy Continue After Death Of Debtor?
One of Benjamin Franklin’s most famous quotes is: “Certainty? In this world nothing is certain but death and taxes.” However, the death of a Debtor does not automatically meant the death of his or her case. The Bankruptcy Code permits the continuation of both Chapter 7 and Chapter 13 cases after a death. Federal Rule […]
What Are The Risks of Co-Signing A Loan?
Co-signing a loan is a dangerous thing. Too many people end up in bankruptcy due to debts they just co-signed for, so here are a few points worth considering before co-signing for a friend or family member. There is a reason they need a co-signor. A professional lender does not think they will pay the […]