0
Its easier to consider what they can't/don't: 401K or IRA account. Household Goods. Work Tools. Reasonable (read cheap) Car., Medical type devices, a few other things.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Will the bankruptcy court take a lawsuite settlement?
It depends on the specific circumstances of your bankruptcy case and the laws in your jurisdiction. In some cases, lawsuit settlements may be considered part of the bankruptcy estate and subject to distribution to creditors. It's best to consult with a bankruptcy attorney for guidance tailored to your situation.
Would our judgment awarded by courts prior to defendants chapter 13 bankruptcy take precedent to the assets before the assets are taken in the bankruptcy?
No.
The company filed for bankruptcy do you still owe the judgement?
Yes. The trustee in bankruptcy will take over collection of the company's accounts receivable. These are assets of the bankrupt estate that must be managed. Even if the bankruptcy is a complete liquidation (Chapter 7) the assets have got to be collected and paid to the individual creditors of the company.
If your assets are over ten thousand dollars can you declare bankruptcy?
hide the assets then file.
If I file bankruptcy and I'm on the deed for my son's condo can they take the condo away?
Your interest in the condo will be considered part of your assets.
What property can bankruptcy court take?
All assets that are worth something can be liquidated (sold or auctioned to pay outstanding debts).
Are assets in a 401k protected if you file bankruptcy?
Yes.
When you file for bankruptcy does someone come to your house to list all your assets and take all the things you did not list as exempt?
Actually, the laws have changed a bit since the 2005 Bankruptcy law was signed. Instead of the "yard sale" way of valuing your assets, you now have to value your assets at the amount it would cost to replace them today with items in exactly the same condition. For more information, see Findlaw's excellent sections on bankruptcy and the changes from the 2005 law. http://bankruptcy.findlaw.com/bankruptcy/bankruptcy-basics/bankruptcy-overview-overview(3).html#8B5C102F-3D8A-4836-A2A3D553A00E015E
What happens to all your personal property in your home after chapter 7 bankruptcy?
Generally, these are exempt assets and they remain yours, preumably to take with you.
Can assets be protected from a personal injury judgment by filing bankruptcy?
Yes. Consult a knowledgeable bankruptcy attorney.
Is property held in an irrevocable trust protected in bankruptcy?
Can you protect your assets from bankruptcy by placing them in an irrevocable trust?
Any assets remaining after bankruptcy is declared go to the?
creditors
