What Property Can You Keep if You File for Chapter 7?
Chapter 7 bankruptcy allows eligible debtors to discharge their debt, making it an appealing option for many people living paycheck to paycheck with little hope of catching up on accrued debt. But while you may be able to eliminate all of your debt through Chapter 7, it isn’t a free ride. The bankruptcy trustee appointed… Read More »
Can You File Personal Bankruptcy and Keep Your Business?
Bankruptcy laws are very specific in labeling assets that you can and cannot keep if you file a petition. Very often, you can keep your business when you file bankruptcy because many businesses fit within the permitted “Exemptions”. Factors such as value, equity and marketability are all considered in providing the “Exemption Analysis”. Many times,… Read More »