Most of the time everything you own is exempt, meaning it’s protected in a Chapter 7 bankruptcy. If not, Chapter 13 can usually protect it. Our last blog post was about keeping or surrendering assets which are security on a secured debt—such as a vehicle on a vehicle loan, a home with a home ... Read More »
Making Sense of Bankruptcy: Using State Property Exemptions in Federal Bankruptcy
The U.S. Constitution makes bankruptcy a federal procedure. So why is the amount of assets you can protect different in each state? The sentence we’re explaining today is: The Constitution gives Congress power to make “uniform Laws” on bankruptcy, yet for much of our history it has had ... Read More »
Making Sense of Bankruptcy: Can a Non-Citizen File Bankruptcy?
Yes, you can usually file bankruptcy in the United States regardless of your citizenship status. Here’s the sentence we're explaining today: Citizenship is not a statutory requirement for filing bankruptcy, but rather you need to reside or have a “domicile” in, or have ... Read More »
