He or she will be able to assess your financial situation, guide
you through the bankruptcy exemptions applicable to where you live and what types of debt you have, and advise you on whether to choose to file for Chapter 7 or Chapter 13 bankruptcy protection.
Not exact matches
Using PSID data from 1976
through 2003, we find that households that experience an involuntary job loss reduce their consumption more if they live in states with higher
bankruptcy exemptions.
In addition to the automatic stay, Chapter 7
bankruptcy can protect your property
through state or federal
exemptions.
When an owner files for
bankruptcy, he or she is allowed to keep the homestead
exemption in full, and depending on what type of
bankruptcy filed, any unsecured debt like the attachment of a lien
through judgment may be rendered non-collectable by the
bankruptcy court.
In each state, there are «
exemption» laws that govern the amount of property you are entitled to keep
through bankruptcy.
Although judgment liens that impair an
exemption can usually be avoided (removed) by motion in a
bankruptcy case, Courts are split as to whether a deficiency judgment that results in a lien on real estate can be removed
through bankruptcy.