Are children's 529 college funds exempt from bankruptcy in Colorado?

Answer Under federal law, contributions made to a 529 account in Colorado two years or more before a bankruptcy petition are protected from creditor claims; there is even limited protection for contributi... Read More »

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What is exempt from a bankruptcy?

The U.S. Bankruptcy Code contains exemptions that allow filers to keep basic possessions that are needed for survival, according to Property protected by these exemptions cannot be tak... Read More »

What Is Non Exempt Property in Bankruptcy?

Exemptions play a critical role in determining whether bankruptcy is the best financial option for those overwhelmed with debt. In a Chapter 7 bankruptcy case, exemptions determine what property yo... Read More »

What Is Exempt Property in Bankruptcy?

The U.S. Bankruptcy Code allows people to get out from under overwhelming debt. In a bankruptcy proceeding, a trustee assumes responsibility for all of the debtor's nonexempt property, liquidates i... Read More »

What Assets Are Exempt in Bankruptcy?

When a debtor files for Chapter 7 bankruptcy, he asserts that he cannot pay all of his debts. Therefore, he requests that the bankruptcy court discharge a portion of his debts. For a bankruptcy cou... Read More »