There exists something referred to as the "wild card" exemption. This is a very useful exemption and what allows most bankruptcy debtors to keep all their property. Section 522(d) of the Bankruptcy Code states, in relevant part: The following property may be exempted [...
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...
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...
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....
