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if your legally married when you file bankruptcy, you must include every single asset including the spouses. depends on what type of bk you file. you may be able to keep your assets.
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∙ 16y ago
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Are assets in a 401k protected if you file bankruptcy?
Yes.
If your assets are over ten thousand dollars can you declare bankruptcy?
hide the assets then file.
How soon after receiving a settlement from an accident can you file bankruptcy?
This will be considered an asset. You cannot file bankruptcy if you have a number of assets that can be used to pay your creditors. Depending on the amount of the settlement, you should wait years to file bankruptcy.
Can a small business owner file for bankruptcy and still protect their assets?
Probably not
If you have assets in your home can you be force to sell it if you file bankruptcy?
If the value of the assets greatly exceed the allowable exemptions, then yes they can be seized.
If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?
Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.
In what year did WorldCom file for bankruptcy?
WorldCom filed for bankruptcy in 2002. At the time, it was the largest bankruptcy ever, with $107 billion in assets. This almost twice as much as that of Enron Corp.
If you file a bankruptcy will your holdings in another country be protected?
In a US bankruptcy, you will have to turn over all property of the estate. Out of country assets are property of this estate.
What is the best way to get rid of your assets and file for bankruptcy if you are being sued?
Don't do that. It's called fraud.
Can a house be added to a bankruptcy after 9 months into the bankruptcy?
When you file bankruptcy, you must include ALL assets that you own. You can't pick and choose. This is considered fraud upon the court. So, absolutely not.
Can you file bankruptcy on a loan for a vehicle?
Probably yes. The reason for the "probably" is that you don't file bankruptcy on specific loans... you file bankruptcy in general, and it applies to most debts (there are certain types of debts that are not dischargable in a bankruptcy). Note that if you do file bankruptcy, you may have to sell the vehicle. In bankruptcy you are often required to sell certain assets in an attempt to at least partially pay off your creditors; you're allowed to keep a certain amount of equity in a vehicle specifically, and a certain amount in "general assets" (which can be applied to a vehicle or to cash or other personal property), but if the vehicle is worth more than that, you would have to sell it.
Does an insolvent person always have to file bankruptcy?
No, if the debtor is judgment proof (i.e. there are no assets/income for the creditor to take) then there would be no need to file a BK.
