By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7One of the requirements of filing a Bankruptcy case is completing the Schedules honestly and completely. It is perfectly fine to unintentionally leave something out as long as the Schedules are amended. One of the most common items left off Schedule B (personal property) is claims or lawsuits that the person filing for Bankruptcy has… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7Lawyers who have been in the Bankruptcy field for any length of time have come across people who either want to try to hide assets in their Bankruptcy case, or who have been caught doing so. We occasionally are asked by potential clients how to shield or hide assets from the Trustee or creditors (a… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 11,Chapter 13,Chapter 7A Rule 2004 Examination (often just called a “2004 Exam”) is the procedure used by parties in a Bankruptcy case to get documents or information from another party. The name comes from Rule 2004 of the Federal Rules of Bankruptcy Procedure, which governs the process. The rule is very broad and essentially allows any party… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 11,Chapter 13,Chapter 7The Bankruptcy discharge is what it is all about. It is why people file for Bankruptcy, even though they also benefit from the automatic stay, lien stripping and other advantages in Bankruptcy. Even if some debts are excepted from the discharge, the Bankruptcy discharge typically frees up enough money to that the individual or couple… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7The great majority of people who have to file a Bankruptcy case receive a full discharge of all of their unsecured debt, such as credit cards and medical bills, and many also receive a discharge of their secured debts unless they choose to reaffirm the debts. However, there are categories of debts that are not… Continue Reading
