201711.16
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The Tools of the Trade Bankruptcy Exemption

You may know that so-called liquidation bankruptcy petitions under Chapter 7 of the Bankruptcy Code are available only to individuals whose income falls below certain specified limits. However, some individuals who are eligible to file under Chapter 7 nevertheless elect instead to file a Chapter 13 repayment petition. This can be an appropriate choice for…

201711.16
0

Can I Keep My Disability Payments in Chapter 7 Bankruptcy?

An estimated 10 million American workers and their family members currently receive Social Security Disability Insurance (SSDI) benefits. As with Social Security retirement benefits, making ends meet on SSDI payments alone can be a struggle. The current average benefit is just a little over $1,000 per month. Recipients with significant debts may find themselves considering…

201711.02
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Your Obligations Under a Chapter 13 Bankruptcy Plan

We have written elsewhere about the differences between Chapter 7 and Chapter 13 bankruptcies, the two principal types available to individuals. The principal difference is that the debtor in a Chapter 7 bankruptcy surrenders non-exempt property and in return for elimination of most common obligations. Setting Up a Payment Plan In a Chapter 13 bankruptcy,…