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What assets can they take in bankruptcy?

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What assets can they take in bankruptcy?
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.
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In a bankruptcy preceding how does the court verify all assets?

  Answer   When you complete your bankruptcy schedules you are swearing, under oath, that everything in them is true and accurate. The Trustee does have the ability

What is no asset bankruptcy?

No asset bankruptcy is a term used to refer to Chapter 7 bankruptcy. Usually in Chapter 7 cases, a person's entire debt is wiped clean. In many cases, the bankruptcy court wil

What property is excluded from countable assets in a person bankruptcy?

Some debts cannot be cleared (child support, judgments, certain student loans, most notably. Basically all loans other than government ones are private and nothing special). A

Why declare bankruptcy if you do not have any assets?

Answer   If you have no assets, then it's a great way to get rid of debt. Chapter 7 bankruptcy is FAST, and normally pretty cheap compared to what you get (all your debt

Can the bank seize assets in the bank during a bankruptcy?

  Answer     If creditors believe the person is trying to remove funds from accounts to keep them from bankruptcy proceedings; creditors can petition the court to

If you file bankruptcy will they take your car?

  Presuming it is a "reasonable" car, and not very highly valued, and if there is a loan on it, you can get current and afford it, and it is needed for life/work...yes. 

How long does it take for a bankruptcy to be discharged?

  Answer     About 4 to 6 months. I think it depends on the courts case load. Any change in circumstance may prolong the action. For instance, an amended petitio
What is a no asset chapter 13 bankruptcy?

What is a no asset chapter 13 bankruptcy?

That is not how a Chapter 13 is usually described, since assets are irrelevant except to compare what a Chapter 7 would provide to unsecured creditors. But it is possible that
How long does it take for a bankruptcy to discharge?

How long does it take for a bankruptcy to discharge?

If you want to buy a house it takes eight years car is three years so im pretty sure it will discharge in eight years

In the event of bankruptcy who has the claims on the assets?

  It depends on what assets you are talking about. Should you declare things like your house and car in your bankruptcy the bank or financier would have a claim to them fi

How can you file bankruptcy if all your assets and business assets are in a trust for your children?

That's a really complicated situation, and you will definitely want to see an attorney in your area about it since there are lots of little factors that can completely change