exemptions

Will I Lose My Tax Refund if I File Bankruptcy?

01/16/12

‘Tis the season when bankruptcy trustees are taking tax refunds. Potential tax refunds MUST be disclosed on your petition just like your couch and car.  Not disclosing your State and Federal tax refund is often a sure way to forfeit your tax refund.  The problem with tax refunds is usually there is no specific exemption [...]

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Texas Bankruptcy Exemptions

12/21/11

As a Dallas bankruptcy lawyer, I help people resolve their debts and protect their assets through bankruptcy every day. When it comes to asset protection, there are two ways your personal property could be protected in bankruptcy. Federal bankruptcy exemptions offer basic asset protection for anyone in the United States filing for bankruptcy, while state [...]

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Texas Bankruptcy Exemptions

12/21/11

As a Dallas bankruptcy lawyer, I help people resolve their debts and protect their assets through bankruptcy every day. When it comes to asset protection, there are two ways your personal property could be protected in bankruptcy. Federal bankruptcy exemptions offer basic asset protection for anyone in the United States filing for bankruptcy, while state [...]

[more]

Court Liberalizes Homestead Exemption For Foreign Debtors Living In Florida Properties

12/19/11

Florida's  homestead exemption seems simple, but in some respects the exemption involves complicated legal issues. One such issue is the relationship between the Florida homestead protection and a debtor’s status under U.S. immigration laws. There are many bankruptcy cases were a debtor’s immigration status disqualified him from a bankruptcy homestead exemption because the debtor had not yet achieved the legal right under our immigration laws to reside permanently in the U.S. and Florida.

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Court Liberalizes Homestead Exemption For Foreign Debtors Living In Florida Properties

12/19/11

Florida's  homestead exemption seems simple, but in some respects the exemption involves complicated legal issues. One such issue is the relationship between the Florida homestead protection and a debtor’s status under U.S. immigration laws. There are many bankruptcy cases were a debtor’s immigration status disqualified him from a bankruptcy homestead exemption because the debtor had not yet achieved the legal right under our immigration laws to reside permanently in the U.S. and Florida.

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Five Things Not to Do When You Owe Too Much Money

11/02/11

When a layoff or catastrophic, unmanageable debt begins to pile on, many people look to extreme or knee-jerk reactions in finding solutions to manage their financial situation without first consulting an attorney or financial advisor.  Here are five common conundrums to keep yourself from acting on when you owe more than you can afford and [...]

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Texas Bankruptcy Exemptions

10/14/11

As a Fort Worth bankruptcy attorney, many of my clients ask about the differences in Texas bankruptcy exemption laws and Federal bankruptcy exemption laws. There are key differences between the two sets of laws, primarily in the amount and type of property that qualifies for exemption in bankruptcy. The two main exemptions that people are [...]

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Keeping Your Belongings in Bankruptcy

10/06/11

A common misunderstanding when a person files for bankruptcy is that they lose all their belongings. This is not true. A person filing bankruptcy is entitled to keep their belongings that are necessary for everyday living. This can include furniture, clothing, appliances, a car and other property. What belongings, or property, a person is entitled [...]

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Inheritance in Bankruptcy

08/23/11

  What happens when you file for bankruptcy and then receive a large inheritance?  If your receive an inheritance, should you still consider filing for bankruptcy?  Questions involving financial assets can be complicated, and often depend on the timing, as well as the type of asset involved. If you inherit prior to, or within 180 [...]

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Appropriate Use of Available Exemptions Will Protect a Debtor’s Property in Chapter 7 Bankruptcy

08/13/11

For those who are considering filing Chapter 7 bankruptcy in San Jose, or elsewhere in California, a common misconception is that the bankruptcy trustee will seize or take away all of a debtor’s existing property.  This is not true. Debtors are entitled to certain exemptions when a bankruptcy is filed.  An exemption allows a debtor [...]

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