What is considered an asset in bankruptcy?

Answer Anyone filing a petition for bankruptcy will be required to list all her assets. For the most part, assets are anything you own. You will need to assign a value to your assets.InvestmentsAll your i... Read More »

Top Q&A For: What is considered an asset in bankruptcy

Is money from student loans considered an asset in bankruptcy?

Since student loans are debts, distributions are not considered assets or income in bankruptcy, according to Legal Helpers. You cannot discharge student loan debt in bankruptcy without a considerab... Read More »

In Pa in chapter 7 bankruptcy can person use Federal Bankruptcy Exemtion to keep 120000 paid off condominium if this is only asset and only projected income is 238 monthly?

Refer to your last similar Q.Yes you have a 125K Federal Homestead Exemption.Yes you have issues that need to be protected by an attorney in the BK process (any creditor will have one and they will... Read More »

Is my IRA an asset in bankruptcy?

Retirement assets are generally exempt to prevent the person filing bankruptcy from later becoming a burden to the state due to a lack of income resources in retirement. IRA assets in particular ar... Read More »

Bankruptcy Asset Protection Resources?

Bankruptcy asset protection refers to the practice of sheltering your assets so that they are not taken during bankruptcy proceedings in order to pay back your creditors. While deliberately hiding ... Read More »