What is considered exempt in chapter 7 bankruptcy law?

Answer Bankruptcy exemptions are provided by state law. The details vary according to each state's laws, but the general principles remain the same from state to state.GenerallyEvery state provides exemp... Read More »

Top Q&A For: What is considered exempt in chapter 7 bankrupt...

Can future earnings be considered in Illinois chapter 7 bankruptcy?

Chapter 7 bankruptcy in Illinois uses future earnings as part of the assessment. Illinois uses a two-part means test to determine if a debtor's current income, and income for the foreseeable future... Read More »

How soon after filing a chapter 7 bankruptcy can you file a chapter 13 bankruptcy?

The U.S. Bankruptcy Code allows debtors to file for bankruptcy multiple times, but has changed the number of years you must wait between filings. Previously, a debtor could file under either Chapt... Read More »

Can you file Chapter 7 bankruptcy after filing a Chapter 13 six months ago that was dismissed?

You can file bankruptcy at any time, even if you filed six months ago, according to Bankruptcy Law Network. If the courts discharge your debt, however, you must wait four years between a Chapter 7 ... Read More »

Can you file chapter 7 bankruptcy immediately after chapter 13 ends?

You can file a chapter 7 bankruptcy after a chapter 13 ends provided you: (a) meet all of the requirements of a chapter 7 bankruptcy; (b) you have not filed a chapter 7 bankruptcy in the past eight... Read More »