What is personal property in bankruptcy?

Answer When filing for Chapter 7 bankruptcy, your property is sold to pay off your creditors. After your property is sold, the bankruptcy court will likely discharge your debts. Don't worry. You can keep ... Read More »

Top Q&A For: What is personal property in bankruptcy

What are the safguards used by property management to store personal records to the people and property they are managing?

If there is no agreement between the landowner and the property manager that gives the property manager authority to sign in the name of the landowner, and no request for permission to do so, then ... Read More »

Is a ceiling fan real property or personal property?

If the ceiling fan is attached to real property (installed), then it is real property. If it is in the trunk of your car, it's personal property. If it was installed when a prospective buyer inspec... 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 »