Sentences with phrase «exemptions protecting the asset»

On top of that, the property the creditor has targeted to seize may have state or federal exemptions protecting the asset in a bankruptcy case.

Not exact matches

If you make sure that you have an accurate value for your assets, then it will be close to what a trustee could get by selling them and your attorney can claim the correct exemptions and protect your assets.

The type of assets you can protect is under the state's exemption statute.

Texas has generous bankruptcy exemptions that can protect your assets — namely your home, 401K and IRA retirement accounts, one vehicle per driving adult in your household, plus other personal property.

In a chapter 7 case, the bankruptcy court appoints a trustee to examine the debtor's assets to determine if there are any assets not protected by available «exemptions».

The Federal exemptions are fairly generous and have a wildcard exemption that can be used to protect cash assets.

Bankruptcy exemptions are legal statutes, either state or federal, which will protect a certain portion of your assets from unsecured creditors when you file for bankruptcy protection.

In a personal bankruptcy, also known as «individual bankruptcy» there are exemptions that allow you to protect a certain amount of assets.

Disclosure and exemption of assets is the way to protect them.

Assets are protected by using bankruptcy exemptions.

Depending on what exemptions are available in Illinois, you may be able to protect all of your assets.

Bankruptcy exemptions exist to protect certain assets from the bankruptcy court and from your creditors.

Depending on the assets that you have, the bankruptcy exemptions may only protect a portion of the tax refunds; therefore, you will lose the portion that is not protected by the exemption.

Prior to filing, Attorney Williams will conduct a liquidation analysis to ensure that your assets will be protected by the exemptions that are available to you under the bankruptcy laws.

More often than not, your exemptions should protect most if not all of your assets.

Even if you fall above the federal and state limits for tax exemptions, there are still some ways that you can protect your assets, investments and life insurance.