Protected property issues

February 23, 2008

January 15, 2008

April 30, 2007

  • How to Value Your Vehicle for Bankruptcy Purposes

    Attorney Rachel Foley has written a very helpful article in the Bankruptcy Law Network blog about how to determine your vehicle's value for bankruptcy  purposes.  I agree wholeheartedly with her recommendation that you take your vehicle to CarMax for a written valuation. (…)

March 7, 2007

February 1, 2007

  • How to Save Protect Your Income Tax Refund if You File Bankruptcy

    My colleague, attorney Chip Parker from Jacksonville, has written a timely post in the BankruptcyLawNetwork blog about how to save your income tax refund if you are thinking about filing for bankruptcy.  Chip suggests that you file your tax returns sooner rather than later, then spend your refund on ordinary and necessary expenses.  You would have to reveal receipt of the income tax refund on your bankruptcy schedules, but you would have the benefit of the money and the odds are very small that your bankruptcy trustee would challenge your use of this money. (…)

January 15, 2007

  • What Should a Potential Bankruptcy Debtor Do About a Potential Inheritance?

    My colleague, Florida bankruptcy lawyer Jonathan Alper, recently wrote a post on his Florida Bankruptcy Law blog about issues arising in the case of a debtor's receipt of an inheritance within six (6) months of filing.  Under the bankruptcy law, any inheritance received by the debtor within six months of filing becomes property of the estate and can be seized by the trustee and distributed like any other non-exempt asset. (…)

December 27, 2006

  • Homestead Exemptions and New Georgia Residents

    My colleague, Massachusetts bankruptcy attorney Bill McLeod, published an interesting post about homestead exemption caps and pre-bankruptcy filing transfers of property in his McLeod Law Offices blog.  Bill's post reminded me that if a debtor acquires an interest in real property within 1215 days of filing for bankruptcy, the debtor can only exempt $125,000 of equity in property. (…)

December 8, 2006

  • Trustees May Seize Exempt Property to Pay Domestic Support Obligation Debts

    If you owe child support or other domestic support obligations, your exempt property is subject to seizure and sale by your bankruptcy trustee.  This provision is one of many in the new bankruptcy code that limits or eliminates bankruptcy protection for individuals who owe child support or alimony. (…)

October 15, 2006

October 12, 2006

  • An Exemption Trap?

    One of the less well known components of the BAPCA bankruptcy law changes has to do with exemptions.  Exemptions, as you may know, refer to those assets that are sheltered from seizure by the trustee.  You can read more about the Georgia exemptions on my Georgia bankruptcy law web site. (…)

September 18, 2006

  • Are Life Insurance Proceeds Exempt in a Chapter 7 Filed in Georgia?

    A recently widowed, elderly woman qualifies for Chapter 7 under the median income/means test but is concerned that the Chapter 7 trustee will assert a claim on the $35,000 insurance proceeds she is expecting following the death of her husband.  The woman needs to file a Chapter 7 to get rid of credit card and medical debt.  Are the insurance proceeds exempt? (…)

July 13, 2006

  • Family Car Loans May Spell Trouble in Chapter 7 Cases

    Florida Attorney Jonathan Alper discusses in his Florida Bankruptcy blog several important considerations if you are thinking about turning to a family member to help you buy a car prior to filing bankruptcy.  In a scenario I have seen on occasion, Jonathan describes meeting with a client who had asked his parents to help him buy a car.  The parents bought the car, but titled it in the debtor (son's) name and never recorded a lien to secure their loan to the son. (…)

March 9, 2006

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